Credit scores in the 500-600 range will likely result in
A) lower interest rates.
B) higher interest rates.
C) automatic acceptance of your credit application.
D) preferential treatment of your application.
Answer: B
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The Merchandise Inventory account balance is $50,000. An physical count of inventory reveals that actual inventory balance is $47,000. Which of the following would be included in the adjusting entry? (Assume a perpetual inventory system.)
A) a $47,000 credit to Merchandise Inventory B) a $50,000 debit to Cost of Goods Sold C) a $3,000 credit to Cost of Goods Sold D) a $3,000 credit to Merchandise Inventory
It is unethical, and considered a form of manipulation, to classify a cash flow as an investing or financing activity, when it really is an operating activity
Indicate whether the statement is true or false