In which of the following situations has conversion NOT occurred?
a. When an instrument is paid on a forged indorsement.
b. When a drawee to whom a draft is delivered for acceptance properly returns it upon request.
c. When any person to whom an instrument is delivered for payment refuses on demand to pay or to return it.
d. When a bank pays an instrument containing only one of two required indorsements.
b
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The current ratio indicates a firm's ability to meet its short-term obligations. Analysts prefer a current ratio that at least exceeds
a. .5 b. 1.0 c. 2.0 d. 3.0 e. 4.0
The federal government primarily provides funds to small businesses through
A. venture capital companies. B. the Small Business Administration. C. business angels. D. the Securities and Exchange Commission.
Describe the business life cycle
What will be an ideal response?
Reliable Metals plans to issue bonds that will mature in 20 years, will have a semi-annual coupon rate of 7%, and will have a Moody's rating of Aa2. Bonds of other metals companies with similar maturities and ratings currently yield an average of 6.3%
A) Reliable's bonds will sell at a price to yield about 6.3% because that is the investors' opportunity cost. B) Reliable's bonds should be priced to yield a rate close to the coupon rate. C) Reliable's bonds should yield more than 6.3% because they are new. D) Reliable's bonds should yield less than 6.3% because they are new.