Odiferous Waste Company is a subsidiary of Precarious Investments, Inc. Odiferous operates a hazardous waste disposal site. QuikChem Corporation is one of many parties who generate waste disposed of at the site. Odiferous borrows money from Regal Bank, which takes over the site when Odiferous goes bankrupt. The Environmental Protection Agency discovers a leak at the site. Can any of these private parties be forced to pay for the clean up? If so, who?
What will be an ideal response?
Any of the private parties mentioned in the question can be required to pay the entire cost for the clean up of the site. Under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), potentially responsible parties on whom such costs may be imposed include persons who generated wastes disposed of at the site (QuikChem) and persons who owned or operated the site at the time of the disposal (Odiferous). Precarious, Odiferous's parent company, may also be liable, as may Regal Bank and any other lender who actually participates in managing a hazardous waste disposal site that requires a clean up.
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The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents$9819?Accounts receivable$77,422?Merchandise inventories$67,362?Prepaid expenses$5500?Accounts payable$16,350?Notes payable$93,638?Other current liabilities$10,900? If net credit sales for the current year were $604,500, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
A. 158.7 days B. 46.7 days C. 40.7 days D. 78.5 days E. 68.3 days
C.D. Jamison Co. is a wholesaler in Norfolk, Virginia. It carries a wide variety of merchandise from various producers-everything from bar soap and shampoo to cameras and stereo equipment-that is sold in retail stores on U.S. Navy bases and Navy ships. C.D. Jamison owns the products it resells and provides all the wholesaling functions. C.D. Jamison is a(n)
A. agent wholesaler. B. manufacturer sales branch. C. general merchandise wholesaler. D. specialty wholesaler. E. single-line wholesaler.
Brown Inc needs to borrow $250,000 for the next 6 months. The company has a line of credit with a
bank that allows the company to borrow funds with an 8% interest rate subject to a 20% of loan compensating balance. Currently, Brown Inc has no funds on deposit with the bank and will need the loan to cover the compensating balance as well as their other financing needs. What is the annual percentage rate for this financing assuming discounted interest? A) 14.29% B) 11.67% C) 10.53% D) 12.98%
What do we call a market in which the price of a security is an accurate estimate by the market of its true value?
A) Efficient Market B) Law of One Price C) Effective Market D) Primary Market E) Secondary Market