The following writers typically use examples often:
a. professional writers
b. non-professional writers
c. both of the above
d. none of the above
a
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A printer that cost $600 and has been owned for 2 years is traded in for a new one. Depreciation in the amount of $120 had been taken each year. The new printer has a fair market value of $1,250 . A trade-in allowance of $400 is granted, and the balance is paid in cash. The transaction to enter the exchanges of these two assets would result in the recognition of
a. a gain of $40. b. a loss of $40. c. a gain of $200. d. neither a gain nor a loss.
Alice says to Brian, "If I decide to buy a word processor next year, I will buy it from you." This is an example of:
a. an illusory promise. b. past consideration. c. the pre-existing duty rule. d. good consideration.
The ________ Act prohibits buyers from inducing or sellers from giving different prices to buyers of commodities of similar grade and quality
a. Taft-Hartley b. Clayton c. Dodd-Frank d. Robinson-Patman
Answer the following statement(s) true (T) or false (F)
1. Filing articles of organization authorizes a limited liability company to transact business in every jurisdiction in the United States. 2. Most limited liability companies are not subject to federal securities regulation. 3. A few states impose corporate income taxes on limited liability companies. 4. In a derivative action, the cause of action belongs to the individual shareholder.