The EMV that a person is willing to give up in order to avoid the risk associated with a gamble is referred to as the ________

The failure to record a purchase of merchandise on account even though the goods are properly included in the physical inventory results in

a. an overstatement of assets and net income. b. an understatement of assets and net income. c. an understatement of cost of goods sold and liabilities and an overstatement of assets. d. an understatement of liabilities and an overstatement of owners' equity.

The common law requires a note to contain the words "promissory note."

Indicate whether the statement is true or false