The Points on a Rating Scale Will Be Least Ambiguous

question 36

Multiple Choice

The points on a rating scale will be least ambiguous when they are identified by

• A) constant alternatives (never, seldom, often, etc.).
• B) numbers.
• C) descriptive phrases.
• D) trait names.

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Definitions:

Long-term Liability

Long-term Liability is any financial obligation of a business that is due for a period exceeding one year, such as bonds payable, long-term loans, and lease obligations.

Premium on Bonds Payable

The amount by which the sale price of a bond exceeds its face value, representing additional cost to the issuer over the bond's life.

Bonds Payable

Long-term debt securities issued by a company to investors, indicating a promise to pay the principal amount at a specified maturity date along with periodic interest payments.

Journal Entry

A record of a financial transaction within a company's accounting system, indicating the affected accounts and their respective debit or credit amounts.