The resources for which the AP/CD process wants to ensure security typically do not include:
a. cash
b. accounts payable master data
c. accounts receivable master data
d. All of the above are included in resources for which the AP/CD process wants to ensure security.
C
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If a contract condition is not satisfied, the obligations of the contracting parties are discharged.
Answer the following statement true (T) or false (F)
Chloe buys a motorcycle on eBay from Junior. In payment she gives him a promissory note for $7,000 . He immediately negotiates the note to Terry. After the motorcycle arrives, Chloe discovers that it is not as advertised. One week later, she notifies Junior. She still has to pay Terry because:
a. On eBay, the rule is "buyer beware.". b. Terry's rights are not affected by Junior's misdeeds. c. Terry indorsed the note. d. Chloe is the drawee. e. Chloe waited too long to complain.
Two Sisters Dresses has net working capital of $43,800, net fixed assets of $232,400, net income of $43,900, and current liabilities of $51,300. The tax rate is 21 percent and the profit margin is 9.3 percent. How many dollars of sales are generated from every $1 in total assets?
A) $1.44 B) $1.32 C) $1.73 D) $.97 E) $1.06
A contract pledging title to assets as security for a note or bond is known as a(an):
A. Indenture. B. Mortgage. C. Lease. D. Equity. E. Sinking fund.