The document that a company conducting an initial public offering produces to describe the key aspects of the securities offered for sale is called the ________.
A) annual report to stockholders
B) term sheet
C) prospectus
D) tombstone
C) prospectus
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Clearwater Hampers is a small British company that sells luxury food and drink in various combinations in picnic hampers. Food and wine are seen as classic, fail-safe gifts in a market where gift-giving is increasingly tricky. Corporate customers, both in the United Kingdom and abroad, are important to the business. The firm's products are also available in a number of retail establishments around the world. The leading salesperson for Clearwater Hampers is Peter Austin who has been with the company since it began operation in 1979. The firm's owners were originally trout farmers who needed a source of income during the winter months and who diversified into selling fine liquors, cheeses, chocolates, and other luxury food items. The company uses a variety of promotions to make prospects
aware of the company's products.A New York-based retailer purchases picnic hampers for $75,000 on November 1 and is given a cash discount of 3/10 net 30. If the invoice is paid on November 6, the retailer will: A. receive a quantity discount of $1,500. B. pay $75,000 plus a penalty charge of $2,250. C. receive a trade discount of $2,250. D. pay $75,000. E. receive a cash discount of $2,250.
Julia and Mary have a contract that is still executory. They mutually agree to rescind their contract and at the same time make a new contract. If the new contract is contested in court and the court finds that there was a preexisting duty under the original contract, then the new contract A) will not be enforceable
B) ?will still be enforceable. C) will not require consideration from either side. D) will be legally sufficient.
Sherman, Inc. manufactures chainsaws that sell for $58. Each chainsaw uses $10 in direct materials and $3 in direct labor per unit. Sherman has two activities: Machining, which is applied at the rate of $2 per machine hour, and Finishing, which is applied at the rate of $20 per batch. This month, Sherman made 200 chainsaws, using 1,000 machine hours in 40 batches. What is the total manufacturing cost for one chainsaw?
A. $14 B. $27 C. $30 D. $13
On May 1, Sessi Inc., a calendar year corporation, purchased a business for a $2 million lump-sum price. The business' balance sheet assets had the following appraised FMV.Accounts receivable $ 38,900??Inventory450,000??Tangible personality225,000??Realty:??? Building500,000?? Land 50,000??? $ 1,263,900??a. Compute the cost basis of the goodwill acquired by Sessi Inc. on the purchase of this business. b. Compute Sessi's goodwill amortization deduction for the year of purchase. c. Use a 21 percent tax rate to compute Sessi's deferred tax liability resulting from the amortization deduction.
What will be an ideal response?