The major difference between a consignment purchase and a memorandum purchase is based on _____
a. when title passes from seller to buyer
b. when an item is paid for
c. purchase price
d. eligibility for cooperative advertising allowances
a
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Which of the following indicators relating to lease capitalization is an example of IFRS criteria being more principles-based than GAAP with respect to lease accounting?
A) The title must transfer to the lessee at the end of the lease term. B) The present value of the payments must be at least 90% of the fair value of the asset. C) The lease term must be a major part of the economic life of the asset. D) The lease agreement must contain a bargain purchase option.
Shaun is planning to invest $570 in a mutual fund at the end of each of the next eight years. If his opportunity cost rate is 6 percent compounded annually, how much will his investment be worth after the last annuity payment is made? Use a financial calculator to determine the amount.?
A. $5,055? B. ?$5,642 C. ?$5,868 D. ?$6,026 E. ?$6,222
Assume that Michael brought home his new girlfriend, Marsha, and her six -year-old daughter, Fiona, to meet his parents. The relationship between the two continued, and Marsha and Fiona were guests several times in Michael's parent's home. During these visits Michael sexually molested Fiona unbeknownst to Marsha. Michael was a convicted child molester and his parents were aware of his propensity
to molest children. No one including Michael's parents said anything to Marsha to give her any warning of Michael's past. a. Michael's parents have a legal duty, in most states, to tell Marsha about their son's past. b. Michaels's parents do not have a legal duty, in most states, to tell Marsha about their son's past. c. If Marsha were to sue Michael's parents for their failure to disclose, it would be a criminal action. d. Any lawsuit brought by Marsha would most likely be a federal lawsuit.
Ralph and Sven enter into a contract under which Sven agrees to guide Ralph's expedition through Tibet for which Ralph agrees to pay Sven. This contract may not be assigned if
A. the assignment will significantly change the risk of nonperformance. B. the assignment is expressly prohibited by the terms of the contract. C. the contract is uniquely personal in nature. D. any of the choices.