Which of the following statements is NOT CORRECT?
A. Foreign bonds and Eurobonds are two important types of international bonds.
B. Foreign bonds are bonds sold by a foreign borrower but denominated in the currency of the country in which the issue is sold.
C. The term Eurobond applies only to foreign bonds denominated in U.S. currency.
D. A foreign bond might pay a higher nominal interest rate than a U.S. bond.
E. Any bond sold outside the country of the borrower is called an international bond.
Answer: C
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Union Corporation reported net credit sales of $2,500,000 and cost of goods sold of $1,800,000 for 2012. Its beginning balance of accounts receivable was $350,000. The accounts receivable balance decreased by $50,000 during 2012. Rounded to two decimal places, what is Union's accounts receivable turnover ratio for 2012?
A) 7.69 B) 7.14 C) 8.33 D) 11.03
Which of the following is true about the book value and market value of a firm's debt??
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During the month of February, Victor Services had cash receipts of $7,500 and cash disbursements of $8,600. The February 28 cash balance was $1,800. What was the February 1 beginning cash balance?
A. $0. B. $4,300. C. $1,100. D. $2,900. E. $700.
Which of the following would not be a remedy available to the seller on account of buyer's breach?
A) Stop delivery of the goods by the carrier B) Require the financially sound buyer to return the goods C) Recover the price D) Cancel the contract