Billy wants to borrow $10,000 to start a male belly dancing business. Creditors are not anxious to lend him the funds. Billy convinces Gary to back-up the credit he gets from a bank. Gary is:
a. the principal b. the grantor c. the testator d. the detainor
e. none of the other choices
e
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On October 1, 2018, Northern Company purchased a patent for $211,000 cash. Although the patent gives legal protection for 20 years, the patent is expected to be used for only 10 years. The patent has no residual value. What will be the balance in the patent account on September 30, 2019?
A) $189,900 B) $211,000 C) $200,450 D) $105,500
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?
________ represents a fundamental shift away from the traditional plan-driven project management approach by adopting a more experimental and adaptive approach to managing projects.
A. Interactive project management B. Agile project management C. Hybrid project management D. Focused project management E. Uncertain project management
Which of the following is true of a jury trial procedure?
A) The jury is selected before an opening statement is made by the attorney. B) The defendant's opening statement is presented before the plaintiff's. C) The jury has the sole power to determine the points of law. D)The responsibility of the jury is to prove facts to support the petition's allegations.