If a bank does not honor a check when there are sufficient funds in the drawer's account to pay a properly payable check, it is liable for wrongful dishonor
Indicate whether the statement is true or false
TRUE
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Watson Company has 5,000 shares of $5 par, 3% preferred stock outstanding, and 25,000 shares of $2 par common stock outstanding. The preferred stock is cumulative and no dividends have been paid for the past two years. If the company wishes to distribute $2 per share to the common stockholders, what is the total amount of dividends that must be paid in the current year?
a. $2,250 b. $50,000 c. $50,750 d. $52,250
Under the direct write-off method of accounting for uncollectible accounts, Bad Debts Expense is debited
A) at the end of each accounting period. B) when a credit sale is past due. C) whenever a pre-determined amount of credit sales have been made. D) when an account is determined to be worthless.
Answer the following statement(s) true (T) or false (F)
1. Creative potential relates to the capacity to generate ideas where practiced creativity is spotting opportunities to apply these skills in the workplace. 2. Within the innovation process model, the recognition of a need or problem is the first action of the idea generation step. 3. The first and second step to the Innovation process is problem solving then implementation and diffusion. 4. Organizational structure innovation is the introduction of new or improved operational and work methods while process Innovation is the introduction or modification of work assignments, authority relationships, and communication and reward systems. 5. Exploratory innovation and exploitative innovation are contradictory in nature.
Which of the following statements is TRUE with respect to companies that supplies
products to consumers? A) They can only be held partly responsible for damages caused to consumers arising from the use of their products. B) Their standard of care is that of a reasonable manufacturer C) They can never escape liability for damage caused to a consumer from using their products D) In the event of injury to a consumer arising from use of the product, the courts will impose a high standard of care on them E) They will not be liable to a consumer for damage arising from use of their products if there is a warning label on the product