Which of the following definitions describes a serial bond?
A. Matures in installments.
B. Secured only by the "full faith and credit" of the issuing corporation.
C. Matures on a single date.
D. Supported by specific assets pledged as collateral by the issuer.
Answer: A
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The movement of money into and out of an organization is called
A. equity financing. B. a revolving credit agreement. C. factoring. D. cash flow. E. budgeting.
Mina Patel is running for Congress from the Fifth District in her state. She is interested in knowing the intended choices of the voters. All the registered voters in her district would constitute the study's
A. experiment. B. dependent variable. C. population. D. independent variable. E. sample.
In order to obtain limited liability, Tom and Doris formed an LLC to operate their catering business. They sometimes deposit the proceeds from catering jobs into their personal checking accounts, and if they need to pay personal bills and are short of funds, they use the business account. If creditors of the business cannot get payment for their invoices, is there anything a court can do to help the creditors?
What will be an ideal response?
Norbury Corporation's net income last year was $34,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Increases(Decreases)Asset and Contra-Asset Accounts: Accounts receivable$12,000 Inventory$(9,000) Prepaid expenses$4,000 Accumulated depreciation$19,000 Liability Accounts: Accounts payable$5,000 Accrued liabilities$7,000 Income taxes payable$(6,000)Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be:
A. $16,000 B. $66,000 C. $53,000 D. $52,000