Glaus Corp

question 6

Multiple Choice

Glaus Corp.signed a three-month, zero-interest-bearing $152,205 note on November 1, 2010 for the purchase of $150,000 of inventory.The adjusting entry made at December 31, 2010 will include a

• A)debit to Note Payable for $735.
• B)debit to Interest Expense for $1,470.
• C)credit to Note Payable for $735.
• D)credit to Interest Expense for $1,470.

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Definitions:

Actual Name

The legal name under which an individual or entity is registered for official purposes.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a general disdain for other cultures.

Grapevine

An unofficial channel of communication within an organization, characterized by the informal and rapid spread of information and rumors.

Noise

In communication, it pertains to any external or internal interference that disrupts the clarity, accuracy, and efficiency of a message's transmission.