Automatic perfection would occur in which situation (assuming a written security agreement)?
A) Mandi buys a refrigerator for her apartment on credit.
B) Glenn buys a computer for his office on credit.
C) Hank buys a computer for his office by borrowing the money for the purchase.
D) Cicely buys inventory for her home-based sewing business.
A
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A judge is immune from liability, even if acting with malice, so long as the function
performed is judicial. a. True b. False
The Work in Process Inventory account of a manufacturing company has a $3500 debit balance. The company applies overhead using direct labor cost. The cost sheet of the only job still in process shows direct material cost of $1580 and direct labor cost of $860. Therefore, the amount of applied overhead is:
A. $1060. B. $2440. C. $1920. D. $2640. E. $860.
When a payee wants to get cash immediately for a draft he can sell it to another party, but interest must be paid. This is called:
a. reducing the draft b. financing the draft c. discounting the draft d. selling the draft e. cashing the draft
Scott is an agent for Lee and his duties require him to fly to Chicago from Cleveland. Scott gets up late and misses his flight to Chicago so he has to buy a second plane ticket. As principal, Lee:
a. has a duty to reimburse Scott for the second plane ticket b. does not have a duty to reimburse Scott for the second plane ticket because it was Scott's fault he had to buy it c. has a duty to reimburse Scott for half the plane ticket d. has a duty to reimburse Scott for 1/3 of the plane ticket e. does not have a duty to reimburse Scott for the ticket because he had no duty to reimburse Scott for a plane ticket to Chicago anyway