If a company has a signed purchase order from a creditworthy customer and the gross profit margin on the order is anticipated to be 36 percent, purchase-order financing is likely.
Answer the following statement true (T) or false (F)
True
Rationale: Purchase-order financing typical requires at least a 35 percent gross profit margin on the signed purchase order.
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Most often after a merger, bank profits
A. rise. B. remain constant. C. drop slightly. D. fall to zero.
Express warranties are always implied by law
Indicate whether the statement is true or false
People with high self-esteem may avoid situations that make them uncomfortable
Indicate whether the statement is true or false
Bret is convicted of arson for burning down his warehouse to collect the insurance. On an application for insurance from Cover-All Insurance Company on a new building, in answer to a question about prior convictions, Bret does not disclose his conviction. This makes the contract
A. binding because the omission is immaterial to Cover-All's decision to issue coverage. B. binding due to Cover-All's failure to discover Bret's conviction. C. voidable by Bret because the omission is immaterial to Cover-All's decision to issue coverage. D. voidable by Cover-All because the omission is material to its decision to issue coverage.