The present value of $60,000 to be received in one year, at 6% compounded annually, is (rounded to nearest dollar)
a. $56,604
b. $63,396
c. $60,000
d. $3,396
a
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________ refer(s) to the federal statute enacted by Congress, or the state statute enacted by a state legislature, that is enforced by the administrative agency.
A. Substantive administrative law B. Majority report C. Procedural administrative law D. Findings and recommendations
A company purchases 300 shares of its $100 par value common stock at $110 per share. It then reissues 50 shares at $114 per share. The entry upon reissue of the stock would be:
a. Cash 5,700 Treasury Stock-Common 5,500 Paid-in Capital, Treasury Stock 200 b. Cash 5,700 Treasury Stock-Common 5,500 Gain on Sale of Treasury Stock 200 c. Cash 5,700 Treasury Stock-Common 5,000 Retained Earnings 700 d. Cash 5,700 Treasury Stock-Common 5,700
____ can prevent an entrepreneur from practicing creativity:
a. Self-reliance b. Fear c. Motivation d. Persistence
The UCC requires an obligation of good faith in the performance of every contract or duty covered by the act
a. True b. False Indicate whether the statement is true or false