Answer: Closing entries: <u>" must be journalized and posted ".</u>
Explanation: Closing entries are those registrations that are ALWAYS made at the end of an accounting period because it cancels the balance of all temporary accounts to transfer them to permanent accounts.
Temporary accounts are profit and loss accounts, so the result of the year is determined in this way.
The clause in a mortgage that best describes the requirement of the mortgagee to execute a satisfaction of mortgage when the note has been fully paid is <u>defeasance</u>
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<h3>What Is Defeasance?</h3>
When the borrower sets aside cash or bonds big enough to pay the obligation, the contract's defeasance clause renders the bond or loan worthless on the balance sheet. The outstanding debt and cash balance on the balance sheet are equal, thus they do not need to be reported because the borrower sets aside funds to pay down the bonds.
Buying commercial real estate is one instance of using defeasance. Due to commitments to bondholders having a stake in the commercial mortgage-backed securities (CMBS) that houses the loan, commercial loans may have hefty prepayment penalties in contrast to home mortgages.
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Answer:
b. Intellectual property
Explanation:
Toyota is investing in Uber a car hailing service company.
Uber has cutting edge technology that makes it stand out from other car hailing services.
Toyota wants to have a part of this technology in order to improve on their cars and make them stand the test of time with regards to customer satisfaction.
To do this Toyota invested $500 million in Uber and in exchange they have access to Uber's intellectual property.
Answer:
B) secondary; primary
Explanation:
Secondary data is data collected from other researches. In this age, there is a lot of easily accessible data made available freely or at low cost. Examining them first not only help researchers find needed data cheaply, but also give them ideas about what they could find out from those data (serendipitous discovery).
Primary data is data collected from first-handed sources by the the researchers themselves by methods including surveys, interviews, direct observation, etc. It is costly to obtain so researchers only come to that when they can't find good secondary data for their purposes.
Answer:
The answer is C. Debit to Supplies for $2,800
Explanation:
Supplies of worth $6,000 was purchased in Aug.
And on Aug. 31, $3,200 balance was left.
That means $2,800($6,000 - $3,200) has been used.
The supplies expense account will he debited for $2,800.
Note that expense increases with debit and credit decreases expense.
Option B, D, E are wrong because the expense increases and not decreases.
