Canada Suffered a Mini Recession in the First Half of 2015

question 121

Multiple Choice

Canada suffered a mini recession in the first half of 2015 due to

• A)falling consumer confidence.
• B)falling government spending.
• C)the rising value of the Canadian dollar.
• D)falling investment spending.
• E)rising imports from China.

Understand and apply the concept of times interest earned ratio in evaluating a company’s ability to meet its interest obligations.

Grasp the effects of bond issuance at values different from face value on financial statements and transactions.

Learn the amortization of bond discount and premium using the straight-line method.

Understand the process and accounting treatment for calling bonds before their maturity.

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Definitions:

Contingency

A future event or circumstance that is possible but cannot be predicted with certainty.

Uniform Commercial Code

A comprehensive set of laws governing all commercial transactions in the United States, designed to provide uniformity and predictability in business law.

Inspection

The act of examining something closely, often for quality, safety, or compliance verification.

Nonconforming Goods

Goods delivered under a sales contract that do not meet the specifications or quality standards agreed upon.