If an insane person who has not been adjudged insane enters into a contract, the contract is non-voidable by the insane person.
Answer the following statement true (T) or false (F)
False
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The stockholders' equity section of a corporation's balance sheet follows: Preferred stock, $25 par value, 6%, cumulative, 10,000 shares authorized, 5,000 shares issued and outstanding …………..$125,000Common stock, $5 par value, 50,000 shares authorized, 20,000 shares issued and outstanding.…………………….. 100,000Paid-in capital in excess of par value, Common stock ……… 90,000Retained earnings ………………………………………. 95,000Total stockholders' equity ……………………………….$410,000 (1) Assuming that no dividends are in arrears, compute the book values per preferred share and per common share.(2) Assuming that one year of cumulative preferred dividends is in arrears, compute the book value per common share.
What will be an ideal response?
In building a marketing plan, the entrepreneur should use a process designed as a pyramid, starting with narrow data and working down to broader-based information.
Answer the following statement true (T) or false (F)
Which of the following groups CANNOT grant rights to employees?
A. Employers B. State legislatures C. Federal courts D. Unions
Which of the following statements is true of the Common Stock account?
A) It is an equity account that has a normal credit balance. B) It is a liability account that has a normal credit balance. C) It is a liability account that has a normal debit balance. D) It is an equity account that has a normal debit balance.