Which of the following is true about the surety's liability to pay in a surety arrangement?
A. The surety is secondarily liable for payment.
B. The surety is primarily liable for payment.
C. The principal debtor must be in default before the surety can be approached.
D. The creditor can only approach the surety as a last resort.
Answer: B
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A. Enterprise resource planning B. Supply chain management C. Business process reengineering D. Customer relationship management
Which sentence uses correct capitalization?
A) For Valentine's day my boyfriend took me to Wrigley Field in the windy city. B) For Valentine's Day my boyfriend took me to Wrigley Field in the Windy City. C) For valentine's day my boyfriend took me to wrigley field in the windy city.
The balance sheet reflects the accounting equation: Assets = Liabilities + Owners' Equity
Indicate whether the statement is true or false
A T-account has a $354 debit balance. This account is most likely:
A) Income Taxes Payable. B) Common Stock. C) Cash. D) Magazine Sales.