Innovations must be ______.
Fill in the blank(s) with the appropriate word(s).
Answer: novel
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Thornton, Inc. has budgeted sales for the months of September and October at $303,000 and $289,000, respectively. Monthly sales are 80% credit and 20% cash. Of the credit sales, 50% are collected in the month of sale, and 50% are collected in the following month. Calculate cash collections for the month of October.
A) $173,400 B) $297,400 C) $294,600 D) $181,800
Sensitivity analysis may be used to
A) experiment with possible future changes in the firm that may affect profits. B) determine whether a corner point of the feasible region actually yields optimal profit. C) replace the simplex method. D) reduce the number of variables in a complex LP problem. E) solve LP problems that require solutions only in whole numbers.
When an investor wants to enter the market with a minimum amount of investment, what type of opportunities would offer them ease of entry and low operating expenses?
A) Securities B) Common stock C) Blue-chip stock D) Exchange-traded funds E) Mutual funds
[Diamond Earrings] Lena ordered a pair of diamond earrings from Uptown Jewelry Store. She paid in advance because the sales clerk told her that the store would have to pay the supplier before the earrings could be shipped. Later that day, Lena found out from a friend of hers that Uptown Jewelry Store was in financial trouble. Lena was concerned and immediately called her bank and issued a stop-payment order on the check she wrote to Uptown Jewelry Store. She gave the bank all of the correct information orally needed to stop payment on the check. The bank, however, did not stop payment on the check. The check was paid, Uptown Jewelry Store went bankrupt, and Lena was unable to get either her money or the earrings from Uptown Jewelry Store. Lena asked the bank manager for a refund of the
check amount. The bank manager told her that the stop-payment order was not good because it was oral and that in any event, under the UCC, banks are not liable for failing to stop payment on a check. The bank manager further told Lena that the bank was a holder in due course, and that Lena is liable for any damages sustained by Uptown Jewelry Store or the bank based upon her attempt to stop payment on the check.Which statement is true regarding the bank manager saying that the bank could not incur any liability for damages for the failure to stop payment on a check? A. The manager is incorrect, and the bank will incur liability or damages suffered by a customer due to the failure to stop payment when a stop-payment order was properly provided, but only up to $500. B. The manager is incorrect, and the bank will incur liability or damages suffered by a customer due to the failure to stop payment when a stop-payment order was properly provided, but only up to $1,000. C. The manager is incorrect, and the bank will incur liability or damages suffered by a customer due to the failure to stop payment when a stop-payment order was properly provided. D. The manager is correct. E. The manager is incorrect, and the bank will incur liability or damages suffered by a customer due to the failure to stop payment when a stop-payment order was properly provided, but only up to $1,500.