Kay borrowed $200,000 for her business. First Bank loaned the money but required a surety and collateral. Kay put up her boat, valued at $110,000, and Anson agreed to guarantee the entire loan. After Kay had paid $50,000 of the loan, she asked First Bank to release the collateral since she wanted to sell it to her brother. The bank looked at her perfect payment record and agreed. Two weeks later,
she sold the business, took the boat to Brazil, and never was heard from again. Can First Bank collect from Anson?
A) No, since they released the collateral
B) Yes, but only $40,000
C) Yes, but only $90,000
D) Yes, and they can get the whole remaining obligation
C
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Ethics is the discussion, determination, and deliberation processes that attempt to decide
a. what is right or wrong. b. what others should do or not do. c. what is considered appropriate in our individual, communal, and professional lives. d. all of the above
Below is financial data for Fawnsworth Industries' current year. Net sales on account during year $500,000 Cost of merchandise sold during year 300,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, beginning of year 90,000 Inventory, end of year 110,000 Refer to the data for Fawnsworth Industries. Based on this information, what is Fawnsworth's
number of days' sales in inventory (assuming a 360 day year)? a. 132 days b. 216 days c. 1,091 days d. 120 days
_____ is a logical process that involves evaluating the effectiveness of a message in relation to the needs of the audience and the purpose of the message
A) Drafting B) Evaluating C) Perfecting D) Revising E) Writer's block
Over the 20-year period of 1980-2000, the composite dividend yield of public U.S. nonfinancial firms has generally:
a. increased. b. decreased. c. remained.