A low liquidity ratio means that
A) you have very few debts.
B) liquid assets are increasing faster than current debt.
C) you probably will have trouble paying your current bills.
D) you have too many liquid assets.
Answer: C
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A force majeure clause usually excuses nonperformance caused by natural disasters such as floods, tornadoes, and earthquakes.
Answer the following statement true (T) or false (F)
Quincy draws a check payable to "Replay Stadium" to buy two season tickets to the next year's State College football games. This instrument is
A. a bearer instrument. B. an order instrument. C. valid but nonnegotiable. D. void.
Sarah has car insurance. While driving her automobile, Sarah negligently ran a red light and hit Vi's car. Which type of coverage will pay for the damage done to Vi's car?
A) liability insurance B) comprehensive insurance C) accident insurance D) uninsured motorist insurance
Most states have financial responsibility laws that require individuals who drive cars to purchase a minimum amount of liability insurance
Indicate whether the statement is true or false.