All the following are direct losses except:
A) a car is stolen
B) a house suffers flood damage
C) an apartment must be rented after a house is destroyed by fire
D) a business loses $100,000 in a law suit
C
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Firms may periodically distribute net assets generated by earnings to shareholders as a dividend. Firms
a. increase net assets and decrease retained earnings. b. increase net assets and retained earnings. c. reduce net assets and retained earnings. d. reduce net assets and increase retained earnings. e. reduce net assets and increase shareholders' equity.
Mark Perez signs a standard form guarantee for a $60,000 loan his brother Fred gets from a bank. Fred later incurs a credit card debt to the Bank for a further $4,500
Fred also later guarantees a loan of $5,000 from the bank to his wife, who goes bankrupt. Fred pays back $30,000 on his loan and then goes bankrupt. For what principal amount is Mark liable as a result of the guarantee? A) $30,000 B) $34,500 C) $35,000 D) $39,500 E) $48,000
The Rhode Island state legislature enacts a law that violates the U.S. Constitution. This law can be enforced by
A) no one. B) the federal government only. C) ?the state of Pennsylvania only. D) the United States Supreme Court only.
Which of the following is(are) issue characteristics of an investment?
I. type of investment such as stocks or bonds II. financial condition of the issuer III. coupon or dividend payments IV. time to maturity A) I and II only B) III only C) I, III and IV only D) I, II, III and IV