Utah Co sold merchandise to Big Sky Corp on December 1, 2014, for $9,000, and accepted a promissory note for payment in the same amount. The note has a term of 90 days and a stated interest rate of 8%. Utah's accounting period ends on December 31 . What amount should Utah recognize as interest revenue on the maturity date of the note?
a. $ -0-
b. $ 60
c. $120
d. $180
c
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State licensing boards that regulate the ethical conduct of the accounting profession strictly regulate the accountants' right to advertise their services to the public.
Answer the following statement true (T) or false (F)
A retailer's cost of goods sold during the year equals $750,000 and its average inventory on hand (at cost) equals $375,000 . Its annual rate of stock turnover equals 2
Indicate whether the statement is true or false
In a one-period inventory model, the more profitable the item during the sales season, the manager should place a higher order at the start of the season
Indicate whether the statement is true or false
The most important critique of SLT may be ________.
A. concerning its actual effectiveness (i.e. does it work?) B. the validity of the LPC instrument is unclear C. questions regarding the adaptability of people in leadership positions D. its lack of intuitive appeal