________ are a limitation on the number of problem-solving alternatives available. An example is when a manager’s superior may have told the manager that a certain alternative is not feasible.

Keith Company paid Major Company for merchandise with a $8,000, 60-day, 9% note dated April 1. If Keith Company pays the note at maturity, what entry should Major make at that time?

Select one: A. Notes payable 8,000 Interest expense 720 Cash 8,720 B. Cash 8,720 Interest income 720 Notes receivable 8,000 C. Notes payable 7,880 Interest expense 120 Cash 8,000 D. Cash 8,120 Interest income 120 Notes receivable 8,000

Which of the following is the best example of a desirable product?

A) breakfast cereal B) cigarettes C) effective but foul-tasting medicine D) junk food E) dental insurance