Tim buys a high-powered tool from Binford Tools to use on the construction of his own garage. Binford Tools provides a full warranty on the tool for the first six months. To pay for the tool, Tim signs a negotiable promissory note which contains the FTC Consumer Credit Notice. Binford properly negotiates the note to First Finance. Within three weeks, the tool stops working and Binford refuses to
repair or replace it. In the meantime, First Finance demands payment from Tim. Under the Federal Trade Commission rules, this consumer credit situation means First Finance
A)can collect if it is a holder in due course.
B)can collect if it is not a holder in due course.
C)can collect whether or not it is a holder in due course.
D)cannot collect.
D
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In the table above, a change in the ______ will result in a movement along the demand schedule for pounds.
a. dollar/pound exchange rate b. rate of interest in the United States c. per-capita income of Americans d. level of technology in the United States
If the U.S. Supreme Court denies a writ of certiorari, it means: I.the court does not feel the case is important enough to review.II.the decision of the lower court is correct.III.the decision of the circuit court of appeals is effectively reversed.IV.the Supreme Court has agreed to hear the case.?
A. Only statement I is correct. B. Statements I and II are correct. C. Statements II and IV are correct. D. Only statement III is correct. E. Statements I, III, and IV are correct.
The following information is provided for Wolf Company: ? Retained earnings $445,000 Preferred stock, 5%, $50 par 100,000 Organization expense 2,500 Additional paid-in capital on common stock ? Additional paid-in capital from recall of preferred stock 2,500 Premium on bonds payable 5,700 Common stock, $10 par 350,000 ? If total contributed capital is $506,000, what is the amount of additional
paid-in capital on common stock for Wolf Company? A) $52,500 B) $51,000 C) $53,500 D) $56,700
Payment on a portion of Accounts Payable will
a. not affect stockholders' equity. b. decrease net income. c. increase total liabilities. d. not affect total assets.