A collection of sample points is
a. an event
b. a union.
c. an intersection.
d. a permutation.
a
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A bank statement
A) is a credit reference letter written by the company's bank. B) lets a company know the financial position of the bank as of a certain date. C) is a bill from the bank for services rendered. D) shows the activity that increased or decreased the company's account balance.
Based on a predicted level of production and sales of 22,000 units, a company anticipates total variable costs of $99,000, fixed costs of $30,000, and operating income of $36,000. Based on this information, the budgeted amount of operating income for 20,000 units would be:
A. $32,727. B. $150,000. C. $30,000. D. $69,000. E. $60,000.
Under both the allowance method and the direct-write off method of accounting for uncollectible accounts, the amount of bad debts expense is to be estimated at the end of each accounting period
Indicate whether the statement is true or false
On October 1, Year 1, Tankard Company borrowed $45,000 from the bank and issued a note for that amount. The note had a one-year term and an annual interest rate of 8%.Required:a) Prepare the journal entry to record the issuance of the note.b) Compute the amount of interest expense that will be shown on the Year 1 income statement.c) What is the total amount of cash that will be paid to the bank at the maturity of the note on October 1, Year 2?d) Prepare the liabilities section of the balance sheet at December 31, Year 1.
What will be an ideal response?