In a(n) ____ swap, two parties agree to exchange payments associated with bonds; in a(n) ____ swap, two parties agree to periodically exchange foreign currencies
a. interest rate; currency
b. currency; interest rate
c. interest rate; interest rate
d. currency; currency
a
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Which of the following is not a characteristic of a general partnership?
a. the partnership is created by a contract b. mutual agency c. partners share equally in net income or net losses unless an agreement states differently d. dissolution occurs only when all partners agree
If a document has too many design elements, what readability tool is missing?
A) Restraint B) Balance C) Consistency D) White space E) Detail
Which of the following is one of the requirements for forming an express trust?
A. The settlor need not necessarily attain the age required by state law for the creation of valid wills and contracts. B. The trust cannot be created for a reason that is contrary to public policy. C. The beneficiaries cannot be members of a specific class, such as "my children." D. The settler must name a trustee for the trust and a substitute trustee in the event the named trustee refuses to act.
Tim Company had sales of $30,000, increase in accounts payable of $5,000, decrease in accounts receivable of $1,000, increase in inventories of $4,000, and depreciation expense of $4,000 . What was the cash collected from customers?
a. $31,000 b. $35,000 c. $34,000 d. $25,000 e. $26,000