If a negotiable instrument is not paid on time and a lawsuit to collect the amount of the instrument is not brought within the time set by a state's statute of limitations, the instrument is ____________________
Fill in the blank(s) with correct word
discharged
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Answer the following statements true (T) or false (F)
1. Endowment funds are invested in perpetuity. 2. Equipment is considered a fixed asset. 3. Accrual basis accounting records financial transactions even when the organization does not have sufficient cash flow. 4. A statement of financial position shows a snapshot of the organization’s assets and liabilities at a point in time. 5. Endowment management is governed by state law.
Assume that the economy is in a mild recession, and as a result interest rates and money costs generally are relatively low. The WACC for two mutually exclusive projects that are being considered is 8%. Project S has an IRR of 20% while Project L's IRR is 15%. The projects have the same NPV at the 8% current WACC. However, you believe that the economy is about to recover, and money costs and thus your WACC will also increase. You also think that the projects will not be funded until the WACC has increased, and their cash flows will not be affected by the change in economic conditions. Under these conditions, which of the following statements is CORRECT?
A. You should reject both projects because they will both have negative NPVs under the new conditions. B. You should delay a decision until you have more information on the projects, even if this means that a competitor might come in and capture this market. C. You should recommend Project L, because at the new WACC it will have the higher NPV. D. You should recommend Project S, because at the new WACC it will have the higher NPV. E. You should recommend Project L because it will have the higher IRR at the new WACC.
You are examining two different MMMFs. Fund A is tax-exempt and pays 5%. Fund B is taxable and pays 6%. You live in a state that imposes no income taxes and are in a 28% federal tax bracket. At what tax rate would the two funds have identical yields?
A) 16.67% B) 17.76% C) 20.23% D) 28.00% E) Cannot determine from the information provided
Which of the following is not a type of cyber-attack?
(a) Kerberos. (b) A trojan horse. (c) A virus. (d) Denial of service.