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Author Question: Unlike the interest rate, which is determined by an economic expert, the applicable discount rate ... (Read 118 times)

debasdf

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on: Jul 6, 2018
Unlike the interest rate, which is determined by an economic expert, the applicable discount rate for past damages is the risk-free rate.
 
  Indicate whether the statement is true or false

Question 2

The entry to close Income Summary, assuming a net loss, would involve a
 a. credit to cash.
   b. debit to net income.
   c. credit to Income Summary.
   d. credit to capital.


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aliotak

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Reply #1 on: Jul 6, 2018
Answer to Question 1

FALSE
Explanation: Unlike the discount rate, which is determined by an economic expert, the applicable interest rate for past damages is jurisdiction-specific.

Answer to Question 2

c


debasdf

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Reply #2 on: Jul 6, 2018
Correct answers!


aliotak

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Reply #3 on: Jul 6, 2018
Great! Please up vote :D


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