Short-term liabilities are those liabilities that
A) will be paid in less than one year
B) are due to paid in 5 to 10 years
C) are due to be paid in more than one year
D) are liabilities owed to the owner and will never be paid
A
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Objective theory of contracts states that the intent to contract is judged by the reasonable person standard and not by the subjective intent of the parties
Indicate whether the statement is true or false
The strategic vision of a company
A. is used for the systematic monitoring of its external opportunities. B. is the basic purpose of the company. C. is the strong enduring belief used by the company to make decisions. D. provides a perspective on where the company is headed.
Accounting profits is the most relevant variable the financial manager uses to measure returns
Indicate whether the statement is true or false
The evening news was full of stories about how Levine sold fraudulent negotiable instruments to investors around the country. Two days later, Brighty, who did not hear the news reports, bought some of the fraudulent negotiable instruments from a swindled investor. Can Brighty claim the position of a holder in due course considering the publicity of the scam?
A) Brighty is presumed to have knowledge of the scam and therefore did not purchase the instruments in good faith. B) Although Brighty passes the subjective test of good faith, he fails the objective test and therefore cannot claim to have purchased the instruments in good faith. C) Brighty can claim to have purchased the instruments in good faith if he subjectively believed the instruments were valid and if objectively his purchase of the instruments was commercially reasonable. D) Brightly cannot be a holder in due course because once an action of fraud is discovered, no additional claims against that party can be sought.