Notes Payable are classified as
A) equity.
B) assets.
C) owner investments.
D) liabilities.
E) expenses.
D
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You work for an accounting firm, and one of your clients believes that your firm made a mistake on his company audit last year. You have been asked by your supervisor to review the audit and deliver information on your findings. The supervisor will use your report to determine whether the client is correct. What type of short informational report have you been asked to write?
An investigative report A summary A periodic report
Which of the following statements regarding individual and group health plans is NOT correct?
A) In a group plan, there is no individual underwriting. B) In an individual policy, coverage is renewable at the option of the insured or insurer. C) An individual plan issues a policy. D) All accidents are covered in a group plan.