Use the Following Information for Questions

question 83

Multiple Choice

Use the following information for questions.
On January 1, 2017, Marianne Corp. purchased $50,000, of Robin Ltd.'s 4%, 10-year bonds for $48,000, since the market interest rate was approximately 4.5%. The bonds pay interest on January 1 and July 1. Marianne has a calendar year end, and classified the bonds as long-term investments. The fair value on December 31, 2017 was $48,500. Marianne sold the bonds on January 2, 2018 for $48,500.
-The adjusting entry for interest on December 31, 2017, is

• A) No entry required

Differentiate between questions of fact and questions of law in legal proceedings.

Grasp the concepts related to case disposition, including terms like moot, remand, and default judgment.

Understand the special provisions for diversity-of-citizenship cases.

Be aware of the exclusive jurisdiction of the federal court system over certain types of cases.

---

Definitions:

Factors Of Production

The resources used to create goods or services, typically categorized into land, labor, capital, and sometimes entrepreneurship.

Short-Run

A time period in economics during which at least one input, such as plant size, is fixed and cannot be altered by a firm to respond to market changes.

Total Economic Cost

The sum of explicit and implicit costs, representing the total expense associated with producing a good or service.

Total Revenue

The overall amount of money generated by a business from its activities, such as sales of goods or services, before any expenses are subtracted.