In order to become a holder in due course, one must take a negotiable instrument without notice
of the following except:
A) That the instrument was signed by an agent.
B) That the instrument is overdue.
C) That the instrument has been dishonored.
D) That there is a defense against it.
E) That there was a claim to it by another person.
A
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Which of the following depreciation methods should be used when the expected benefits to be received from an asset will decline each period?
A) straight-line method B) units-of-production method C) sum-of-the-years'-digits method D) compound-interest method
Retained earnings always shows a positive balance
Indicate whether the statement is true or false
To be a close corporation, the business must be small, with no more than 20 owners and no more than $500,000 in gross annual income
a. True b. False Indicate whether the statement is true or false
Finance leases are long-term or noncancelable leases in which the lessor transfers substantially all the risks and rewards of ownership to the lessee.
Answer the following statement true (T) or false (F)