______________ are non-commercial bank depository institutions that include savings banks and credit unions, which accumulate individual savings and lend primarily to other individuals.
a. Thrift institutions
b. Securities firms
c. Pension funds
d. Finance firms
e. none of the above
Ans: a. Thrift institutions
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The Living Planet Index measures the human consumption of the renewable natural resources.
a. true b. false
Martin Company signed a $5,000, 3-month, 6% note payable, on December 1, 2004, with the principle plus interest due on March 1, 2005. If the accounting period ends on December 31, which of the following statements is TRUE?
A) On December 31, 2004, Martin will debit Interest Expense for $50 B) On December 31, 2004, Martin will credit Interest Payable for $75 C) On March 1, 2005, Martin will debit Interest Expense for $75 D) On March 1, 2005, Martin will debit Interest Payable for $25 E) On March 1, 2005, Martin will debit Notes Payable for $5,075