The most effective technique for increasing self-objectivity is to

A) ask for feedback from others.
B) set objectives for self-improvement.
C) take frequent vacations.
D) adopt a relaxed, casual attitude.


Answer: A

Business

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Tampa Corporation's balance sheet showed the following amounts for their liabilities and stockholders' equity accounts: Current Liabilities, $20,000; Bonds Payable, $60,000; Lease Obligations, $12,000; and Deferred Income Taxes, $2,000 . Total stockholders' equity was $42,000 . The debt-to-equity ratio is

a. 0.45 b. 0.58 c. 1.76 d. 2.24

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On March 1, 2010, Darby Corporation sold 82 of its 9 percent, $1,000 bonds for a price of 96 plus accrued interest. The accrued interest amounted to $1,000 . If a balance sheet were to be prepared at the end of the day, March 1, 2010, the carrying value reported for the bonds payable would be

a. $82,000. b. $78,720. c. $79,540. d. $77,900.

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Initial direct costs incurred by a lessor in consummating a sales-type lease are

a. charged to unearned income in the first period of the lease term. b. charged to cost of sales in the first period of the lease term. c. deferred and allocated over the lease term in proportion to the recognition of rent revenue. d. deferred and allocated over the lease term on a straight-line basis.

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Robert and John entered into a bilateral contract and Robert has fully performed. Their mutual rescission of the contract is binding at common law

a. True b. False Indicate whether the statement is true or false

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