Exchange gains and losses are reported on the income statement
Indicate whether the statement is true or false
True
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On January 2, 2010, McGowan Corporation issued 20-year bonds payable with a face value of $300,000 and a face interest rate of 8 percent. The bonds were issued to yield a market interest rate of 9 percent. Interest is payable annually on January 2 . In calculating the present value of the bond issue of January 2, 2010, the
a. 9 percent rate will be used to calculate the present value of the face amount and the 8 percent rate will be used to calculate the present value of the periodic interest payments. b. 9 percent rate will be used to calculate the present value of the face amount and the present value of the periodic interest payments. c. 8 percent rate will be used to calculate the present value of the face amount and the present value of the periodic interest payments. d. 8 percent rate will be used to calculate the present value of the face amount and the 9 percent rate will be used to calculate the present value of the periodic interest payments.
A minor's ratification of a contract must be express and cannot be implied
Indicate whether the statement is true or false
The Statute of Frauds states that the memorandum must contain more essential terms than the written contract.?
Indicate whether the statement is true or false
In the ____ stage of team development, individuals do a lot of questioning in the forming stage: What is our purpose? Who are the other team members? What are they like?
a. forming b. norming c. storming d. performing