Student name:

TRUE$/$FALSE $-$ Write $\text{'}T\text{'}$ if the statement is true and $\text{'}F\text{'}$ if the statement is false.

The decision to extend credit to customers will decrease wage costs.

$($c$)$ true

$($c$)$ false

Interest on a two$-$month, $7\%,$$$1,000$ note would be calculated as $$1,0000\mathrm{.}07\frac{2}{12}.$

$()$ true

$(0)$ false

An entertainment company received $$6$ million in cash for advance season ticket sales. Prior to the beginning of the season, these sales should be recorded as a liability.

$(0)$ true

$$ false

At the maturity date, the carrying value of a bond should always be equal to the face value.

$()$ true

$($