Wherever possible, you should use concrete rather than abstract words to make your messages easier to understand
Indicate whether the statement is true or false
True
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Lassen Corporation issued ten-year term bonds on January 1, 2010, with a face value of $800,000 . The face interest rate is 6 percent and interest is payable semi-annually on June 30 and December 31 . The bonds were issued for $690,960 to yield an effective annual rate of 8 percent. The effective interest method of amortization is to be used. The carrying value of the bonds payable on the
December 31, 2010, balance sheet date should be (rounded to the nearest dollar) a. $696,412. b. $698,236. c. $698,382. d. $690,960.
Most companies that engage in earnings management typically do NOT go beyond which of the following activities on the earnings management continuum?
a. Strategic matching b. Change in methods or estimates with full disclosure c. Change in methods or estimates with little or no disclosure d. Non-GAAP accounting
If the allowance method is used, how does recording the recovery of an uncollectible account affect the elements of the financial statements? (Hint: Consider the effect of both the reinstatement and the collection of the receivable taken together.)
A. Increase total assets and stockholders' equity B. No effect on total assets or stockholders' equity C. Decrease total assets D. Increase stockholders' equity
Historically, the Japanese have had poor dental care. As part of their beauty regimen, the Japanese do have a habit of lightening and whitening their skin. Teethart has developed "tooth manicure" salons, which allow Japanese to match their teeth coloration to their skin. A personalized whitening mouthpiece is developed for each patient. The mouthpiece is placed around the teeth and a cleaning solution is added. The patient listens to soothing music and sits in a comfortable chair while his or her teeth are whitened. Monthly treatments in this spa-like environment reflect the ________ element of Teethart's service mix.
A. Place B. Promotion C. Product D. Production E. Process