A _____ is assigned to represent the bondholders and to guarantee that the terms of the indenture are carried out.?
A. ?federal government agent
B. trustee
C. ?liquidator
D. ?negotiator
E. ?rating agency
Answer: B
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Theoretically, in the push approach to manufacturing, each job consists of a batch of one unit
Indicate whether the statement is true or false
Which of the following, if discovered by Somber Company in the accounting period subsequent to the period of occurrence, requires the company to report the correction of an error?
a. The estimate of the useful life of a depreciable asset should have been revised. b. Capitalization of an expense c. A change from declining-balance depreciation method to straight-line method d. Change in percentage of sales used for determining bad debt expense
The individual acts based on what is expected of him or her by others in which of the following stages of moral development?
a. Obedience and punishment orientation b. Instrumental purpose and exchange c. Interpersonal accord, conformity, mutual expectations d. Social accord and system maintenance
MacKenzie Company sold $420 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 5.0% service charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be:
A. Debit Cash $399.00; debit Credit Card Expense $21.00 and credit Sales $420. B. Debit Cash $399.00 and credit Sales $399.00. C. Debit Cash of $420 and credit Accounts Receivable-Regional $420. D. Debit Accounts Receivable-Regional $399.00; debit Credit Card Expense $21.00 and credit Sales $420. E. Debit Cash of $420 and credit Sales $420.