All companies must have an audit committee.
Answer the following statement true (T) or false (F)
False
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On January 1, a company issues bonds dated January 1 with a par value of $400,000. The bonds mature in 5 years. The contract rate is 7%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $383,793. The journal entry to record the second interest payment using the effective interest method of amortization is:
A. Debit Interest Expense $12,648.28; debit Premium on Bonds Payable $1,351.72; credit Cash $14,000.00. B. Debit Interest Expense $12,648.28; debit Discount on Bonds Payable $1,351.72; credit Cash $14,000.00. C. Debit Interest Expense $15,405.79; credit Discount on Bonds Payable $1,405.79; credit Cash $14,000.00. D. Debit Interest Expense $15,351.72; credit Discount on Bonds Payable $1,351.72; credit Cash $14,000.00. E. Debit Interest Payable $14,000.00; credit Cash $14,000.00.
What is direct examination?
A) inspection and verification of all documents related to a trial by the judge B) inspection and verification of all documents related to a trial by the jurors C) witnesses being questioned by the plaintiff's attorney D) prospective jurors being questioned by the judge or lawyers of each party
International Media, Inc, a U.S. firm, expands into global markets through a joint venture. In the venture, International Media shares responsibilities and A) both the profits and liabilities
B) none of the profits or liabilities. C) the profits, but not the liabilities. D) the liabilities, but not the profits.
A major purpose of the bulk sales provisions of the Code is to protect the seller's creditors
Indicate whether the statement is true or false