If a person assigns the same contract rights to more than one assignee, the majority of courts
would decide that:
A) The first assignee to give notice would prevail.
B) The first assignee to file a lawsuit would prevail.
C) The first assignee to be assigned the rights would prevail.
D) The first assignee to collect would prevail.
C
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Roki Inc uses the periodic inventory system. June 1 On hand, 50 units @ $15.00 each $ 750.00 5 Purchased 115 units @ $15.10 each 1,736.50 14 Purchased 75 units @ $15.20 each 1,140.00 Total cost of goods available for sale $3,626.50 30 On hand, 90 units How many units did Roki, Inc sell during June?
a. 90 b. 100 c. 150 d. 50
The bylaws of a corporation:
A. usually set up procedures for the holding of shares. B. usually set out the duties and authority of the officers and the conduct of meetings. C. do not involve financial matters such as declaring and paying dividends. D. need not be consistent with state laws or the articles of incorporation.
Which of the following statements is incorrect?
A. An unadjusted trial balance shows the account balances after they have been revised to reflect the effects of end-of-period adjustments. B. Interim financial reports can be based on one-month or three-month accounting periods. C. Property, plant, and equipment are referred to as plant assets. D. The fiscal year is any 12 consecutive months (or 52 weeks) used by a business as its annual accounting period. E. An income statement reports revenues earned less expenses incurred.
There are four key characteristics of a strong and effective board member. Which one is not such a characteristic?
a. The majority of the board members are outside members b. The majority of the board members are large owners of stock in the firm c. The majority of the board members are also operational managers d. The majority of the board members are members of a limited number of other boards