For a long-term note payable, repaying a portion of principal along with interest payments is called loan amortization.
Answer the following statement true (T) or false (F)
True
Loan amortization describes repaying the principal of a loan, along with interest, over the life of the loan.
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All of the following are disadvantages of fair value use except
a. fair values may not be readily obtainable b. fair values may cause more fluctuations as change occurs from period to period c. comparability between companies may be impacted by different fair value measurement d. fair values only affect balance sheet accounts
In an organization, individuals who suspect fraud usually don't come forward because they:
a. feel that perpetrator will get caught anyway. b. do not want to accuse someone. c. fear being branded as a whistle-blower. d. will lose the friendship of the perpetrator.
The lower-of-cost-or-market inventory procedure would be expected to result in the lowest inventory valuation when applied to
a. individual inventory items. b. groups of similar inventory items. c. total inventory. d. none of these.
Explain why the traditional collective bargaining process in the U.S. has been criticized for producing collective bargaining agreements (or union contracts) that are incompatible with today's business needs.
Fill in the blank(s) with the appropriate word(s).