At the level of the firm, service providers offer just services and manufacturers offer just products

On 1/1/16, Lantana Loan Co., a calendar-year company, accepts a 5%, $500,000 three-year loan that pays interest semi-annually on 6/30 and 12/31 from Diamond Distributors, when the market rate of interest was 10%. In exchange for the note, Diamond agrees to make semi-annual interest payment and repay the full $500,000 at maturity. Complete the amortization table for this note, then complete all

journal entries for 2016. What will be an ideal response?

Which of the following is a true statement?

a. Lifestyle changes are often the easiest fraud symptoms to detect. b. Lifestyle changes are helpful in detecting fraud on behalf of a corporation. c. Fraud is indicated when an employee sells a large number of shares of stock he/she owns. d. Evidence of an employee paying off large debt can be verified, but it is costly to do so.