In most states, the statute of limitations for tort actions is ________
A) 30 days from the date of injury
B) 45 days to 11 months from the date of injury
C) 2 to 4 years from the date of injury
D) 4 to 7 years from the date of injury
C
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You are comparing three companies that use different depreciation methods. Which of the following would help you the most in making a comparison of the companies?
a. The average earnings per share for the quarter. b. Prospective cash receipts. c. Claims to resources. d. Disclosure of accounting policies.
A $200,000 bond issue with a carrying value of $206,000 is called at 101 and retired. The entry to record the retirement of bonds is:
A) Bonds Payable 202,000 Loss on Retirementof Bonds 4,000Cash 206,000 B) Bonds Payable 200,000 Unamortized BondPremium 6,000Cash 202,000Gain on Retirementof Bonds 4,000 C) Bonds Payable 200,000 Loss on Retirementof Bonds 6,000Cash 206,000 D) Bonds Payable 206,000 Cash 206,000