On January 1, 2020, Oriole Company, a calendar-year company, issued $2120000 of notes payable, of which $530000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is: a. Current liabilities, $530000; Long-term Debt, $1060000.
b. Current liabilities, $2120000.
c. Current liabilities, $530000; Long-term Debt, $1590000.
d. Long-term debt, $2120000.

Daniel owns 100 shares of abc corporation's common stock. abc uses the fair value option, and recent declines in the firm's credit rating have caused the value of the firm's outstanding bonds payable to drop by 10%. daniel feels this is good news, but he wants to know what you think about the situation. which of the following represents your best response? a : "this situation may be positive for you in that the change in abc's credit standing indicates that the value of the firm's assets is likely increasing. however, the drop in bond value may negate any positive effects on your bottom line, because it means your claim on the firm's assets is simultaneously decreasing." b : "actually, this is bad news all around. the drop in the value of abc's bonds payable means shareholders' claims on the firm's assets have decreased. moreover, abc's declining credit rating means that the firm's assets are probably also dropping in value, thus magnifying your losses even more." c : "on the surface, this seems like good news because it means your claim on the firm's assets has increased. however, the drop in creditworthiness may also indicate that abc's assets are declining in value, thus offsetting any gains associated with the drop in bonds payable." d : "you're right! this is good news because it means that abc's debtholders have a decreased claim on the firm's assets. as a result, the firm's existing shareholders"like you"have seen their claim on the firm's assets increase."

Cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely: cooper, cpa, is auditing the financial statements of a small rural municipality. the receivable balances represent residents’ delinquent real estate taxes. internal control at the municipality is weak. to determine the existence of the accounts receivable balances at the balance sheet date, cooper would most likely:

Best burger is a major fast food chain. its managers are motivated to grow the firm in order to increase their market power and change the industry structure in their favor. which of the following strategies is most associated with their motive for growth? a. employing celebrity spokespeople b. implementing automated burger-making machinery c. purchasing competitors d. increasing executive salaries