The product warranty liability is an example of an estimated liability
Indicate whether the statement is true or false
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Jasper makes a $25,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.)
A. Debit Cash for $25,000; credit Notes Receivable $25,000. B. Debit Cash $26,750; credit Interest Revenue $1,750, credit Notes Receivable $25,000. C. Debit Cash $25,437.50; credit Notes Receivable for $25,437.50. D. Debit Cash $25,437.50; credit Interest Revenue $437.50; credit Notes Receivable $25,000. E. Debit Notes Payable $25,000; Debit Interest Expense $1,750; credit Cash $26,750.
Which statement best describes a similarity between price fixing and predatory pricing?
A. Both are illegal underthe Federal Trade Commission Act. B. Both are fine-tuning techniquesthat do not change the general price level. C. Bothtypically discourage and block competition from entering a market. D. Bothmay ignore demand or cost or both.
In the sentence My supervisor and I recently interviewed four outstanding candidates for the accounting position, the word supervisor functions as a(n)____
A) noun B) pronoun C) adverb D) adjective
A promise by one party to pay another for refraining from an action that one has a legal right to undertake is enforceable
Indicate whether the statement is true or false