The more frequently a bank compounds interest, ____ will be
a. the higher the stated interest rate
b. the lower the stated interest rate
c. the higher the APY
d. the lower the APY
e. a and c
C
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Which of the following is one of the three questions to ask after a trust violation occurs?
A. Is the trustee innocent or guilty of committing the transgression? B. Did the trustee mean well by his or her actions? C. Should the violation be attributed to a peer? D. Is the person hiding the truth?
Case law governs all areas of business not covered by statutory or administrative law.
Answer the following statement true (T) or false (F)
Which one of the following statements is TRUE?
A. It is harder for dissidents to gain board seats if a company's board is classified. B. A classified board is one in which an announcement requesting applications for board members appears in the newspaper. C. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each year. D. Inside directors are more concerned with shareholders' interests since they are more closely concerned with firm operations. E. Management is said to be entrenched when the senior managers are consuming excessive perquisites.
Which of the following general journal entries would be used to recognize $7,500 of uncollectible accounts expense under the direct write-off method?
A.
| Uncollectible accounts expenses | 7,500 | |
| Accounts receivable | 7,500 |
B.
| Uncollectible accounts expenses | 7,500 | |
| Allowance for doubtful accounts | 7,500 |
C.
| Allowance for doubtful accounts | 7,500 | |
| Uncollectible accounts expenses | 7,500 |
D.
| Accounts receivable | 7,500 | |
| Uncollectible accounts expenses | 7,500 |