Carl Cohen expresses the theory of contractarianism: Only those who can understand contracts are rational beings and should have rights.

Even when women could not hold a job outside of the home, these women held a sizable authority within the home.

A debenture is an unsecured bond issued without any pledged assets of the company and based on the reputation of the company. 

Accrual accounting is based on the principle that cash does not need to be exchanged in order to recognize the completion of a transaction. 

The accounting treatment of a contingent liablity is based on two requirements: Likelihood of occurence and whether or not the occurance is estimable.  If both requirements are answered “yes”, how should this contngency be treated on the financial statements?

In using the “Balance Sheet Aging of Accounts Receivables Method” for bad debt allowance, the uncollectable percentage amount applied to aged receivables goes up or down with the age of the receivable. 

Which of the following is NOT true regarding bad debts?

In determining the depreciation expense for an asset, the total cost of the asset is divided by its ________ __________ and expensed each period by the product of that equation .  

What is the term for the intangible asset that is booked when a company is purchased for an amount that exceeds the value of the net assets of the company.  

If I am using the FIFO inventory method and I have 2 lots of 10 items each in my inventory with the first lot of 10 costing me $10 each and the second lot of 10 costing me $12 each.   What is the total amount of my COGS when I sell someone 14 items.