Techniques to emphasize important ideas include which of the following?
a. Repetition
b. Passive voice
c. Inductive order
d. All of the above
A
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On July 9, Mifflin Company receives an $8,500, 90-day, 8% note from customer Payton Summers as payment on account. What entry should be made on the maturity date assuming the maker pays in full, and no adjusting entries have been made related to the note? (Use 360 days a year.)
A. Debit Cash $8,613; credit Interest Revenue $113; credit Notes Receivable $8,500. B. Debit Cash $8,628; credit Interest Revenue $128; credit Notes Receivable $8,500. C. Debit Notes Receivable $8,500; debit Interest Receivable $170; credit Sales $8,670. D. Debit Cash $8,670; credit Interest Revenue $170; credit Notes Receivable $8,500. E. Debit Cash $8,500; credit Notes Receivable $8,500.
Fund-raising activities in a not-for-profit organization
a. are not important in accounting for the expenditure of the organization. b. must be reported clearly in the financial reports of the not-for-profit so that donors can see the amount of funds going to the mission of the organization. c. are not heavily scrutinized in the financial accounting records. d. are usually the main function of the organization.
The following events occurred last year at Taylor Company: Purchase of plant & equipment $33,000 Sale of long-term investment 12,000 Stock Dividend Paid 6,000 Paid off bonds payable 15,000 Depreciation Expense 7,000 Based on the above information, the net cash flows from investing activities for the year on the statement of cash flows would be:
A) ($21,000). B) ($15,000). C) ($7,000). D) ($37,000).
Bonita wants to sell her consulting abilities to a potential client. She should use principles that are similar to those used in selling products and services
Indicate whether the statement is true or false