Expenses:
A) are costs the company incurs in carrying on operations.
B) are a subdivision of owner's equity.
C) record personal expenses not related to the business.
D) Both A and B are correct.
Answer: D
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Indicate whether the statement is true or false.
Fairfield Pharmaceutical Inc. plans to sell 20,000 bonds each with a face value of $1,000
If all of the bonds eventually sell for $950 each and the firm's investment banker receives a commission of 2.00% for every bond sold, what are the net proceeds to the firm from the sale of the bond issue? A) $19,600,000 B) $19,000,000 C) $18,780,000 D) $18,620,000