In which of the following situations is the seller a merchant under Article 2 of the UCC?
A) Paul, a full-time college student, sold his textbooks to State Bookstore.
B) Randall, a part-time college student and full-time father, sold his textbooks to a friend.
C) Zompa Inc., a toy manufacturer, contracted to sell dolls to TonTon Department Store.
D) Mabel, a stay-at-home mom, sold her car to her friend Gloria.
C
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Angie Pereira and Ferro Schwartz are employees of Free Star Company. In February 2019, Angie's gross pay was $6000, and Ferro's gross pay was $7400. All earnings are subject to FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%. Which of the following would be included in the entry to record the salaries expense for February?
A) a debit to Salaries Payable to employees for $830.80 B) a debit to FICA-Medicare Taxes Payable for $830.80 C) a credit to FICA-OASDI Taxes Payable for $830.80 D) a credit to Salaries Expense for $830.80
What is the expected rate of return on a bond that matures in 5 years, has a par value of $1,000, a
coupon rate of 11.5%, and is currently selling for $982? Assume annual coupon payments. A) 12.0% B) 12.7% C) 12.5% D) 13.4%
Under variable costing, fixed manufacturing overhead is treated as a product cost.
Answer the following statement true (T) or false (F)
A suit involving a dispute for $45,000 over a contract signed in California under California law with parties from two different states could be tried in federal court using federal law or in a California court using California law
a. True b. False Indicate whether the statement is true or false