Under the terms of _____, a firm will pay interest on any funds it borrows, and a commitment fee on any funds it does not borrow.
A. commercial paper
B. a revolving credit agreement
C. a treasury bill
D. an angel investor agreement
Answer: B
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O'Hare Company is in the process of preparing a purchases budget for the first quarter of Year 2. The company has budgeted sales as follows: Dec. Year 1$44,000 Jan. Year 2$46,500 Feb. Year 2$51,000 Mar. Year 2$61,500 Cost of goods sold is expected to be 75% of sales. The company would like to have ending inventory each month equal to 25% of the following month's predicted cost of sales. The total cost of purchases in January Year 2 is:
A. $46,500. B. $59,250. C. $35,719. D. $44,438.
The wash sale provisions apply to which of the following? I.Jim bought 500 additional shares of Alfa Gamma stock for $4,000 on December 2. Jim owned a total of 2,500 shares of Alfa Gamma stock after that purchase. On December 26, 2020, Jim realizes a loss of $1,500 on the sale of 250 shares of Alfa Gamma stock.II.Calvin realizes an $8,000 loss on December 29, 2020, on the sale of Sloan corporate bonds. Each bond has a face value of $1,000. He replaces the Sloan corporate bonds with the same number of Jackson corporate bonds, each with a face value of $1,000 on January 16, 2021. The Jackson corporate bonds have a different interest rate and maturity date than the Sloan bonds but have the same bond rating (AAA).?
A. Only statement I is correct. B. Only statement II is correct. C. Both statements are correct. D. None of the statements are correct.
Under the Model Business Corporation Act, what types of corporate documents does a shareholder have a right to inspect?
What will be an ideal response?
Importance of materiality judgments Explain the differences between performance materiality and tolerable misstatement