If a Contract Specifies a Certain Carrier, a Substitution of a Different

question 72

True/False

If a contract specifies a certain carrier, a substitution of a different carrier for any reason breaches the contract.

Understand how to calculate accrued interest on notes payable.

Analyze and categorize different types of accounts, their normal balances, their placement in financial statements, and distinguish between temporary and permanent accounts.

Prepare general journal entries for a variety of transactions.

Comprehend the nature of interest rates, including the difference between the nominal interest rate and the effective rate on discounted notes.