When a futures contract is purchased, ________
A) no money changes hands
B) the only cash flow is at the maturity of the contract
C) the buyer must deposit a certain amount of cash into a margin account
D) the futures commission merchant marks up the price to cover his commission
Answer: C
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Sarah owes Jane $10,000 under a valid contract but has been unable to pay the debt. Becky agrees to pay $10,000 to Jane in exchange for Jane's contract claim against Sarah. This arrangement is an example of a(n) ________
A) garnishment B) parol evidence C) attachment D) assignment of rights
The last semimonthly payroll of Available Temp Services was $135,600.00 of gross wages for 113 employees. Of the total, none was for payments to employees in excess of the $7,000.00 wage base. What were the total FUTA and SUTA taxes for the payroll? The company's SUTA rate is 5.4% and its FUTA rate is 6.0% less the 5.4% SUTA credit.
A. $8,136.00 B. $15,729.60 C. $7,322.40 D. $9,492.00
A request or invitation to negotiateis an offer
Indicate whether the statement is true or false
Individuals who are arrested must be informed of certain constitutional rights
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