The International Accounting Standards Committee was established in 1973 to develop worldwide standards. Which group replaced it in 2001?
a. FASB
b. IFRS
c. IASB
d. IIA
c
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Which of the following would be the best option when rejecting an applicant?
A) Use an opening buffer that emphasizes which skills the organization could use. B) Personalize the message by using the applicant's name. C) Convey the news using blunt and personalized language. D) Explain exactly why the applicant was rejected. E) Explain exactly why another candidate was chosen over the applicant.
An LLC can be organized in only one state.
Answer the following statement true (T) or false (F)
The entire-contract provision makes the application for life insurance a part of the contract itself if attached
Indicate whether the statement is true or false
The Laura Company has the following errors on its books as of December 31, 2017. The books for 2017 have not yet been closed. a.In 2017, fully depreciated equipment (with no residual value) that originally cost $8,000 was sold for $700 as scrap. The company credited the $700 proceeds to Equipment.b.On January 1, 2016, the company recorded the purchase of equipment in exchange for a three-year, noninterest-bearing note payable in the amount of $10,000. Interest rates were then 8%, but no recognition was made of this fact. The present value of $1 at 8% for three periods is 0.7938. (Ignore depreciation.)? Required:Prepare journal entries to correct these errors at December 31, 2017. Ignore income taxes.
What will be an ideal response?