Commission structures vary with the type of security being traded, the type of broker involved and the size of the order
Indicate whether the statement is true or false.
Answer: TRUE
You might also like to view...
A single-use plan encompassing a range of projects or activities is a(n)
A. program. B. strategy. C. series. D. agenda. E. mission.
Investments in long-lived assets, with useful lives (or service lives) that can extend for several or many years such as land, buildings, and equipment represent _____ capital
a. sunk b. hard c. physical d. intangible e. soft
Vincent Company purchased merchandise from Liu Company with an invoice price of $300,000 and credit terms of 2/10, n/30. Liu Company's cost for the merchandise was $200,000. Vincent Company paid within the discount period. Assume that both buyer and seller use a perpetual inventory system and the gross method of recording invoices.1. Prepare entries that Vincent should record for (a) the purchase and (b) the cash payment.2. Prepare entries that Liu should record for (a) the sale and (b) the cash collection.3. Assume that the buyer borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 9% and paid it back on the last day of the credit period. Compute how much the buyer saved by following this strategy. (Assume a 365-day year and round
dollar amounts to the nearest cent.) What will be an ideal response?
In some states, the courts will treat a corporation as a legal corporation despite a defect in its formation.
Answer the following statement true (T) or false (F)