The rule of necessity states that an agency may render a final binding decision orally

when a time-sensitive issue is being decided.

a. True
b. False


b

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A series of equal payments made or received at the end of each period is an ordinary annuity.

Answer the following statement true (T) or false (F)

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Exhibit 14-6 Jones Corporation issued $400,000 of its 8%, 10-year bonds, dated January 1, 2016, at face value plus accrued interest on May 1, 2016. Interest is paid on January 1 and July 1. Jones uses the most common method to record the sale of the bonds between interest payment periods. ? Refer to Exhibit 14-6. The amount of bond interest expense reported on the year-end 2016 income statement

would be A) $17,538. B) $21,333. C) $21,384. D) $32,000.

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Wages of the following personnel would be classified as indirect labor except the:

a. painter. b. supervisor. c. fork lift driver. d. plant janitor.

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Western cultures judging people from other cultures who use their hands to eat rather than use utensils is an example of ______.

A. euphemism B. narcissism C. ethnocentrism D. altruism

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