Limited physical access to long-lived assets is a typical internal control that affects multiple assertions for long-lived assets
a. True
b. False
Indicate whether the statement is true or false
True
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To record wages earned but not paid under the modified cash accounting method,
a. debit Wages Payable and credit Wages Expense. b. debit Cash and credit Wages Expense. c. debit Wages Expense and credit Wages Payable. d. no entry is required.
Another name for RAID 1 is ________
A) Mirroring B) Distributed Parity C) Striping D) None of the above
Landmark Corp. buys $300,000 of Schroeter Company's 8%, 5-year bonds payable, at par value on September 1. Interest payments are made semiannually. Landmark plans to hold the bonds for the 5-year life. When the bonds mature, the journal entry to record the proceeds will be:
A. Debit Cash $300,000; credit Interest Revenue $300,000. B. Debit Cash $300,000; credit Interest Receivable $300,000. C. Debit Cash $300,000; credit Bonds Payable $300,000. D. Debit Cash $300,000; credit Debt Investments-HTM $300,000. E. Debit Long-Term Investments-HTM $300,000; credit Cash $300,000.
A good example of shared value is fair trade whereby a greater proportion of revenue goes to poor farmers by paying them higher prices for their crops.
Answer the following statement true (T) or false (F)