In a bike shop, Barrie, who is not knowledgeable about bikes, overhears Cullen say, "This bike could win any race!" Barrie buys the bike, but does not win any races with it. Cullen's statement is
A) a mistake
B) fraudulent.
C) an opinion.
D) an attempt at undue influence.
C
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The dividends account normally has a debit balance.
Answer the following statement true (T) or false (F)
The benefits of a single set of accounting standards used around the world would include all of the following except:
a. They would eventually save companies considerable money in accounting fees. b. They would prevent competitors from acquiring each other. c. They would allow easier comparisons by analysts and investors. d. They would facilitate access to foreign capital markets.
On January 1, 2018, Brazos Company purchased equipment and signed a six-year mortgage note for $97,000 at 15%. The note will be paid in equal annual installments of $25,631, beginning January 1, 2019. On January 1, 2019, the journal entry to record the first installment payment will include a ________.
(Round your answer to the nearest whole number.) A) debit to Mortgage Payable for $25,631 B) debit to Interest Expense for $14,550 C) credit to Cash for $11,081 D) credit to Mortgage Payable for $97,000
When a business constructs a new building, the cost of the building should include the insurance on the building during the period of construction
Indicate whether the statement is true or false