A business borrows cash by signing a note payable. Which of the following accounts is debited?
A) Notes Payable
B) Accounts Payable
C) Notes Receivable
D) Cash
D
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Which of the following statements regarding inflation and accounting is false?
a. The SEC requires U.S. companies to present supplemental financial information adjusted for the effects of inflation. b. Instability of the measuring unit that is the currency occurs in countries with rampant inflation. c. In some in Latin American and South American countries, companies have been required to adjust their financial statements to take into account the effects of inflation. d. The FASB developed rules for companies in the United States to use to adjust for inflation.
Identify the true statement(s) regarding freedom of speech: I. It was not until the 1840s that legal doctrines protecting speech when offensive began to be recognized by the courts. II. In the First National Bank v. Bellotti case, the Supreme Court struck down a state law prohibiting a corporation to advertise to influence voters on issues that did not "materially affect" its business. III. In
the Virginia Board case, the U.S. Supreme Court failed to link the "right to receive information and ideas" with the traditional values that underlie free speech. IV. The Prescription Information Law expressly allows the transmission or use of both patient-identifiable data and prescriber-identifiable data for certain commercial purposes. a. I only b. II only c. III only d. I and III
Two factors are considered essential to the selection of blue cheese for the Burgerhoff Restaurant color and texture. The Burgerhoff insists that color is four times as important as is texture for food presentation purposes
The Burgerhoff is considering two brands of blue cheese. After tasting the two brands, color and texture ratings have been assigned as indicated. Use a multifactor evaluation process to determine which brand of cheese best suits the needs of the Burgerhoff. Brand Color Texture A 0.8 0.6 B 0.7 0.8
Duke signs a note "payable to the order of Equity Bank.". Unless Duke has a valid defense against payment, his liability on this note is
a. impaired. b. primary. c. secondary. d. qualified.