If a drawer has a check certified, the drawer is still ____________________ liable for payment of the check
Fill in the blank(s) with correct word
secondarily
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Most companies would prefer to remain domestic if their domestic market were large enough. Yet several factors are drawing more and more companies into the international arena. List some of these factors
What will be an ideal response?
Which of the following represents a situation in which an auditor is independent of its client?
a. The audit fee paid by the client represents 10% of the auditor's annual gross revenue. b. The auditor takes a personal loan from the president of the company. c. The auditor's dependent son holds 25 shares of the client's common stock. d. The auditor has not received payment for the previous audit services.
Layer Corporation has provided the following information concerning a capital budgeting project: Investment required in equipment$160,000 Expected life of the project 4 Salvage value of equipment$0 Annual sales$360,000 Annual cash operating expenses$290,000 Working capital requirement$20,000 One-time renovation expense in year 3$20,000 The company's income tax rate is 30% and its after-tax discount rate is 8%. The working capital would be required immediately and would be released for use elsewhere at the end of the project. The company uses straight-line depreciation on all equipment. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting. The total cash flow net of income
taxes in year 3 is: A. $61,000 B. $50,000 C. $41,000 D. $47,000
Travis Computing Systems earns most of its revenue from sales and in-person computer services. The sales force at Travis recently began telemarketing and Web selling. How would telemarketing and Web selling most likely benefit Travis?
A) The need for an outside sales force would be completely eliminated through telemarketing. B) Travis sales reps would be able to engage in more frequent face-to-face interaction with large, high-value customers. C) Travis sales reps would be able to service hard-to-reach customers more effectively. D) The overhead costs of Travis would significantly decrease. E) The current liabilities of Travis would decrease.