There are _______ steps in the purchasing cycle.
Fill in the blank(s) with the appropriate word(s).
six
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Kirby subscribed to purchase 10,000 shares of stock to be issued by Globule Inc., an existing corporation. Globule accepted the subscription. The price set forth in the subscription agreement was $10 per share. When the time came for Kirby to pay the amount of his subscription, Kirby paid only $6 per share, claiming that such an amount represented the fair value of the shares. Globule delivered the stock certificates to Kirby for $6 per share. Is Kirby liable to Globule for the other $4 per share?
A. No, but he is liable for another $2 per share. B. No, because regardless of what the subscription price was, he cannot be forced to pay more than the fair market value of the shares. C. Yes, because Globule's stock does not have a par value. D. Yes, because regardless of the fair value, a purchaser is liable for stocks issued for less than the par value.
Which of the following statements is not correct?
a. A ratio that indicates a firm's long-term, debt-paying ability from the income statement view is the times interest earned. b. Some of the items on the income statement that are excluded in order to compute times interest earned are interest expense, income taxes, and unusual or infrequent items. c. Capitalized interest should be included with interest expense when computing times interest earned. d. Usually, the highest times interest coverage in the most recent five-year period is used as the primary indication of the interest coverage. e. In the short run, a firm can often meet its interest obligations, even when the times interest earned is less than 1.00.
Asian Americans who are conversant in English, highly educated, hold professional and managerial positions, and exhibit buying patterns very much like typical American consumers are referred to as ________ Asian Americans.
A. socialized B. nonassimilated C. upper class D. assimilated E. subcultured
Oakley posts a defamatory remark about Pierre in "Roominate," an online social network maintained by SocNet, Inc, an Internet service provider. Most likely to be held liable for the remark will be
a. Oakley. b. Pierre. c. Roominate. d. SocNet.