An agent, acting within the scope of authority granted by the principal, may bind the principal to contracts, but may not negotiate terms of the contracts

A $20 million, 20 year term bond issued in 1982 is coming due in 2002, i.e., the entire principal is payable at the maturity date in 2002. At the end of the calendar and fiscal year 2001, how will this bond be disclosed?

A. As a $20 million long-term liability. B. As a $20 million current liability. C. As a $1 million current liability and zero in long-term liabilities. D. As a $1 million long-term liability.

Which of the following statements about consumer-generated ads placed on social networks is not true?

A) Consumer-generated ads are viewed as more genuine than company-generated ads B) Some advertising experts believe the future of advertising is in user-generated ads rather than agency-produced ads C) Encouraging consumers to generate ads for a product is a creative form of interactive marketing D) Most ads on social networks are produced by consumers