Answer the following: a. What is the advantage to the indorser of a qualified indorsement? b. What is the advantage of a restrictive indorsement?
a. A qualified indorsement disclaims or limits the contract liability on an instrument (example: "without recourse").
b. A restrictive indorsement requires indorsees to comply with certain instructions regarding the funds involved (example: "for deposit only").
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At the end of the third year of operation, Alger Corporation has total assets equal to $100,000, liabilities totaling $90,000, and contributed capital of $30,000 . What is the balance in retained earnings?
a. $40,000 (Dr) b. $40,000 (Cr) c. $20,000 (Dr) d. $10,000 (Cr) e. $20,000 (Cr)
What is an objective?
What will be an ideal response?
Companies should set maximum purchase limits on debit cards and credit cards as part of internal controls.
Answer the following statement true (T) or false (F)
A mutual fund had year-end assets of $437,000,000 and liabilities of $37,000,000. If the fund NAV was $60.12, how many shares must have been held in the fund?
A. 9,165,414 B. 10,165,476 C. 9,219,160 D. 8,412,642 E. 6,653,360