Answer:
A prospectus is not required because the initial public offering happened 5 years ago
Explanation:
A prospectus is a legal document which is to be filled by Securities and Exchange Commission (SEC) that reflects the details with respect to the investment offering to the public in terms of stocks, bond, mutual funds, etc
On the other hand the initial public offering is the offering done by the company for the first time to the public related to the investment
Since in the question it is mentioned that the customer purchased the shares of stock but its initial public offering is done 5 years ago so no prospectus is required
The special tax was called J<span>izya.</span>
Answer:
C) Asking the consumer to write his or her own letter to exercise that opt out right
Explanation:
The whole purpose behind the Gramm-Leach-Bliley Act (GLBA)was to allow customers the right to easily opt out of information sharing by the banks. That means that the banks are required to provide an easy way for a customer to do so, and writing your own letter might be easy for some people, but very difficult for others.
It is much easier to do it by phone, or by simply mailing back a detachable form. If the client knows how to use internet and emails properly, then the bank must provide an easy option to opt out through an email or an option that can be found in the bank's website.
This is true, it is a misunderstandment
Answer:
Bad Debt Expense ($40,000 - $3,200) $36,800
To Allowance for Doubtful Accounts $36,800
(Being the bad debt expense is recorded)
Explanation:
The adjusting entry is shown below:
Bad Debt Expense ($40,000 - $3,200) $36,800
To Allowance for Doubtful Accounts $36,800
(Being the bad debt expense is recorded)
For recording this we debited the bad debt expense as it increased the expenses and credited the allowance for doubtful debts as it decreased the value of the assets
And since there is a credit balance so the same is deducted from the account receivable
