When a contract appears to call for the furnishing of both goods and services, the common law automatically applies to the transaction.
Answer the following statement true (T) or false (F)
False
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When a notes receivable is outstanding at the end of an accounting period, ________.
A) no adjusting entry is needed B) the revenue recognition principle requires that earnings from the note be recorded in the year the cash is received C) the total interest on the note should be recorded in an adjusting entry D) the interest revenue earned on the note up to year-end is part of that year's earnings
A collection of social psychology methods employed to improve organizational effectiveness and employee well-being is known as ______.
A. organizational change B. organizational dynamics C. organizational flexibility D. organizational development
Failure to record accrued interest expense would result in which of the following?
A) Assets being overstated B) Assets being understated C) Liabilities being overstated D) Liabilities being understated
To promotes the arbitration of contract disputes, the U.S. Congress has enacted the ________.
A. Federal Arbitration Act B. Uniform Commercial Code C. Securities Exchange Act D. Labor Relations Act