(CMA adapted, Dec 95 #28) Refer to the Winner Company example. Cost of goods sold for the year ended September 30, Year 5, for Winner Company is
a. $262,000
b. $252,000
c. $260,000
d. $248,000
e. $224,000
D
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Interest payments are
A. the periodic payments on equity securities. B. the periodic payments on debt securities. C. tax-free payments from insurance companies. D. taxable Social Security payments.
In diversity of citizenship cases, federal courts apply:
A) federal substantive and procedural law. B) state substantive and procedural law. C) state procedural and federal substantive law. D) federal procedural and state substantive law.
The time value of a call option is
I) the difference between the option's price and the value it would have if it were expiring immediately. II) the same as the present value of the option's expected future cash flows. III) the difference between the option's price and its expected future value. IV) different from the usual time value of money concept. A. I B. I and II C. II and III D. II E. I and IV
During the next several years, the major threat to the dominance of the U.S. money and capital markets is expected to come from
A) Russia's difficulty in transforming its economy into a capitalistic one. B) Japan's prolonged recession and banking crisis. C) the Eurozone countries comprising the European Monetary Union and a single currency. D) the huge Chinese economy and its billion-plus people.