Applications, especially applications with a certain level of privilege, present security problems that may not be captured by system-level or user-level auditing data

Stancil Enterprises prepaid four months of office rent totaling $9,000 on October 1, 2017. Assuming Stancil records deferred expenses using the alternative treatment, what would be the adjusting entry recorded on December 31, 2017?

A) Debit Rent Expense and credit Prepaid Rent for $6,750 B) No entry is needed since Rent Expense was recorded on October 1, 2017 C) Debit Prepaid Rent and credit Rent Expense for $2,250 D) Debit Prepaid Rent and credit Rent Expense for $27,000

Many seller-financed purchases are examples of

a. institutional lending. b. creative financing. c. mortgage-backed securities. d. blended-rate mortgages.