Which of the following is not true about a consumer lease under UCC Article 2A?
a. The lessor must be regularly engaged in the business of leasing or selling goods.
b. The lessee cannot be an organization.
c. There is no dollar limit on the amount of a consumer lease under Article 2A.
d. Consumer protection provisions are contained in Article 2A, and these may not be varied by the parties' agreement.
c
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On May 1, 2013, Legacy Corporation sold $250,000 of its 15%, five-year bonds dated January 1, 2013, for 100 plus accrued interest. How much cash was received?
A) $237,500 B) $250,000 C) $262,500 D) $268,750
Which of the following forms of business offers limited personal liability to owners as well as the choice to be taxed as either a corporation or as a partnership?
A. Limited liability partnership B. Limited liability company C. Corporation D. Proprietorship E. Partnership
What is a fixed-period system?
What will be an ideal response?
A drawback of standard costing is that standard costs often fluctuate erratically.
Answer the following statement true (T) or false (F)