Shad signs a promissory note payable to Theresa "with interest" on which he conspicuously notes that it is "nonnegotiable." This instrument is
A. negotiable.
B. nonnegotiable, because it includes the notation "nonnegotiable."
C. nonnegotiable, because it does not specify a rate of interest.
D. nonnegotiable, because the exact amount payable cannot be determined from the face of the instrument.
Answer: B
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Under general incorporation laws, ________.
A. incorporation is a legislative privilege as well as a right B. the corporation's shareholders have to make a decision regarding incorporation C. the secretary of state has to issue a certificate of incorporation D. incorporation is a legislative privilege, not a right
Serena purchased a home for $220,000, insuring it for $120,000 with Falcon Insurance. She later purchased a $60,000 policy from Devon Life. The home was totally destroyed by fire six months later. Under these circumstances, which of the following statements is true?
A. Serena cannot recover $180,000-the total of both policies. B. She cannot claim insurance from either as policies with pro rata clauses cover only partial losses. C. Serena cannot claim more than $60,000 from Devon Life. D. Serena can claim the entire damages, $220,000, only from Falcon Insurance as its policy amount is greater.
______ is a function of getting the job done whenever and however it must be done.
A. Productivity B. Efficiency C. Effectiveness D. Opportunity E. Preference
Financial accounting focuses on information for decision makers outside of the business, such as creditors and taxing authorities
Indicate whether the statement is true or false