The Truth-in-Lending Act applies to private individuals who loan money
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is true of skim pricing?
A) Skim pricing is most profitably used in the decline stage of the product life-cycle. B) Skim pricing is most useful to a business when there are many competitors in the market offering equivalent products. C) Skim pricing is most effective when product differentiation is diminishing, potential customers are price sensitive, and many competitors or substitutes exist. D) In skim pricing, a company tries to keep its costs as low as possible and to offer a low price that no competitor can beat. E) Skim pricing is viable when a business has a sustainable differentiation advantage in a quality-sensitive market with few competitors.
By using Generalized Audit Software (GAS), the auditor can potentially audit the whole population rather than taking a sample
a. True b. False Indicate whether the statement is true or false
Fun-Spot's mission is ________
A) product oriented B) technology oriented C) market oriented D) design oriented E) narrowly focused on profits
Metal Company Metal Company sold merchandise to Steel Corporation on December 1, 2012, for $150,000, and accepted a promissory note for payment in the same amount. The note has a term of three months and an annual interest rate of 8%. Metal's accounting period ends on December 31. Refer to the data provided for Metal Company. What is the maturity date of the note?
A) December 31, 2012 B) January 31, 2013 C) February 28, 2013 D) March 31, 2013