Answer: False
Explanation:
Forecasting Costs and Initial outlays are generally just as hard to predict as Revenue Forecasts. The future is hard to predict and does not differentiate between Costs and Revenues and in the case of Larger Projects, it is EVEN HARDER to forecast costs as their costs could widely deviate from initial estimates once they begin.
Take for example large scale government projects with the Berlin Brandenburg airport being a shinning example. It was supposed to open in 2012 but has still not opened till today and is billions of Euros off the initial cost projection.
Answer:
(a) Discount on bonds payable ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LIABILITIES
(b) Interest expense (credit balance) ⇒ WHEN INTEREST EXPENSE IS INCLUDED IN THE INCOME STATEMENT IT HAS A DEBIT BALANCE, WHEN IT HAS A CREDIT BALANCE IT MEANS IT IS A LIABILITY AND MUST BE REPORTED IN THE BALANCE SHEET
(c) Unamortized bond issue costs ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET, IT IS A CONTRA LIABILITY ACCOUNT
(d) Gain on repurchase of debt ⇒ SHOULD BE REPORTED IN THE INCOME STATEMENT AS PART OF OTHER GAINS AND LOSSES
(e) Mortgage payable (payable in equal amounts over next 3 years) ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LIABILITIES (UNDER CURRENT AND LONG TERM LIABILITIES)
(f) Debenture bonds payable (maturing in 5 years) ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LONG TERM LIABILITIES
(g) Notes payable (due in 4 years) ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LONG TERM LIABILITIES
(h) Premium on bonds payable ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LIABILITIES (REDUCES BONDS PAYABLE)
(i) Bonds payable (due in 3 years) ⇒ SHOULD BE REPORTED IN THE BALANCE SHEET UNDER LONG TERM LIABILITIES
Answer:
Cognitive dissonance
Explanation:
Cognitive dissonance refers to conflicting ideas or beliefs that cause discomfort to an individual. Individuals tend to seek consonance between their expectations and reality.
In this case Lester expected to feel good about his purchase of a luxury since it should be a much better car than his old hatchback, butt he actually doesn't like to drive the larger and more luxurious sedan.
Answer:
Banking service is the emery most interested in Payment Services.
