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AlladinOne [14]
3 years ago
9

If no harm results from an allegedly negligent act, there is no liability.

Business
1 answer:
mixas84 [53]3 years ago
7 0
The answer to your question is False
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A company borrowed $10,000 from the bank at 5% interest. The loan has been outstanding for 45 days. Demonstrate the required adj
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Answer:

The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.

Explanation:

The number of days that a loan debt stays unpaid is referred to as the outstanding number of days.

In line with the general accounting rules, all expenses must be debited. Therefore, the interest expense has to be debited.

Interest payable, however, is the amount owed to a lender by a firm and is thus credited as the matching journal entry to the interest expense.

Therefore, we have:

The required adjusting entry would be to debit the Interest <u>expense</u> account and <u>credit</u> the Interest<u> </u><u>payable</u> account.

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This activity is important because any business that offers multiple product lines to multiple market segments is faced with the
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The Department of Justice and the Federal Trade Commission must define the relevant market when determining whether to allow a m
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The correct answer is letter "B": a price increase results in higher​ profits; otherwise, the market is too narrow.

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When firms are interested in acquisitions or mergers they have to determine if the target company is part of a relevant market. The term refers to the competitive conditions that offer the economy where the target company is located. The relevant market also considers the type of product or service the target company offers.

<em>Relevant markets optimal for mergers are those where an increase in prices generates more revenue for firms. If there are too many competitors offering undifferentiated products, the market will not allow organizations to profit from price increases. Those markets, then, are too narrow.</em>

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Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $165,000 were on hand. Not included i
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