Which of the following will most likely pay the least for automobile insurance, assuming they all drive identical cars?
A) A 29-year-old woman with a good credit score and driving record
B) A 55-year-old woman with two drunk driving arrests
C) A 32-year-old married man with bad credit and a bad driving record
D) A 20-year-old man who drives 50,000 miles per year and lives in a big city
Answer: A
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Describe how a Corporate Computer Services Function can overcome some of the problems associated with distributed data processing
On January 1, Year 2, Burton Company had a balance in Accounts Receivable of $90,000 and a balance in the Allowance for Doubtful Accounts account of $2,400. Burton had credit sales of $244,000 during Year 2 and ended the year with a balance in Accounts Receivable of $48,000. Burton also wrote off $1,100 of receivables during Year 2. Burton uses the allowance method and assumes that 2% of the sales on account will not be collected.Required:a) After adjustments at the end of Year 2, what will be the balance in the Allowance for Doubtful Accounts?b) What was the decrease in the net realizable value of accounts receivable in Year 2 as a result of the write-off of the receivable?c) What amount of cash was collected from customers during Year 2?
What will be an ideal response?
Tone Loc and 89 of his biggest fans formed an S corporation, 2hit, Inc., as the original 90 shareholders. Tone then transferred some of his stock to his grandfather, four of Tone's cousins, five of Tone's children, three of Tone's grandchildren, and two close friends. According to the S corporation shareholder limit rules, how many shareholders does 2hit, Inc., have?
A. 95. B. 92. C. 90. D. 97. E. None of the choices are correct.
Ben, a minor, signs a contract to buy a Call-U phone from Dallas, an adult sales representative. Dallas
A. can avoid the contract without Ben’s consent. B. cannot avoid the contract. C. can avoid as much of the contract as Ben elects to avoid. D. must obtain Ben’s consent to avoid the contract.