Prior-year data is required for government-wide financial statements.
Answer the following statement true (T) or false (F)
False
Prior year data, typically 10 years, is presented with the statistical section of the CAFR and is optional.
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Exhibit 14-12 On January 1, 2016, Jewels, Inc sold $200,000 of its 12% five-year bonds to yield 10%. Interest is paid each January 1 and July 1, and effective interest amortization is used. On May 1, 2018, Jewels, retired $100,000 of the bonds at 104. The book value of the bonds on December 31, 2017, was $212,926. ? Refer to Exhibit 14-12. Which of the following would be included in the
interest accrual entry on May 1, 2018? A) credit to Interest Payable for $3,333 B) debit to Bond Interest Expense for $3,549 C) credit to Discount on Bonds Payable for $4,259 D) debit to Premium on Bonds Payable for $451
Which of the following is an intangible asset?
A) Oil B) Goodwill C) Retained earnings D) Land
There are multiple challenges associated with making effective e-teams. Which of the following is not a challenge?
A. E-teams can be effective in generating social capital. B. The physically dispersed team is susceptible to the risk factors that can create process loss. C. Process losses result from identification and combination activities. D. Some collective energy, time, and effort must be devoted to dealing with team inefficiencies.
Vironi Mave, a designer clothing company, wants to hire fashion designers to start a new clothing line for men. To obtain funds for the project, Vironi Mave issues several formal IOUs to sell them to its investors, with a maturation period of ten years. Which of the following sources of long-term funds is being used by Vironi Mave in the given scenario?
A. Commercial paper B. Term loans C. Direct investments from owners D. Corporate bonds