Which warranties does a collecting bank give?
A) Warranty of no alteration only
B) Good title, authentic signatures, no alteration, no defense good against it, and no knowledge of insolvency
C) Good title and genuine signatures only
D) A collecting bank does not give any warranties
B
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Kenneth was exposed to radiation on his job in an environmental cleanup. In a lawsuit against his employer, the court must decide the full extent of both present and future damages rather than allowing Kenneth to return to court years later if medical problems develop at that time
a. True b. False Indicate whether the statement is true or false
Wichita, Inc., had reported the following amounts on its financial statements prepared as of the end of the current accounting period: Revenues$210,000? Expenses 174,800? Net income $35,200? Current assets$55,000? Long-term assets 165,000? Total assets $220,000? Current liabilities$30,000? Long-term liabilities 85,000? Total liabilities $115,000? Common stock$45,000? Retained earnings 60,000? Total equity $105,000? Total liabilities equity $220,000? What is the company's debt-to-assets ratio?
A. 8% B. 52% C. 16% D. 40%
Suppose a firm's CFO thinks that an externality is present in a project, but that it cannot be quantified with any precision?estimates of its effect would really just be guesses. In this case, the externality should be ignored?i.e., not considered at all?because if it were considered it would make the analysis appear more precise than it really is.
Answer the following statement true (T) or false (F)
Greg has too much to drink at a local bar. He yells out that Lynette, who was in the bar and had just turned him down for a date, is loose with her affections and has even been guilty of stealing money from the wallets of her dates. Those allegations are untrue. In fact, Lynette is a Sunday school teacher who does not drink and was only in the bar accepting donations for a local charity. Lynette
promptly slaps him, and he pushes her away. Unfortunately for Greg, a police officer is present in the bar and arrests Greg. Based on the altercation, Greg pays a hefty fine and spends 24 hours in jail for violation of the jurisdiction's criminal battery statute. The next week, Greg receives a civil complaint filed by Lynette for defamation and a civil cause of action for battery. Greg says that he already paid for the offense and that he should not be prosecuted twice. What should Greg do? a. Greg should file a motion to dismiss Lynette's suit which should be granted because of the bar against double jeopardy. b. Greg should file a motion to dismiss Lynette's suit which should be granted because of the bar against double jeopardy, and he should also sue Lynette for malicious prosecution. c. Since he can be held either civilly or criminally liable, but not both, Greg should consent to proceed with the civil action and move to have the criminal conviction set aside because the civil action will not look as bad on his record. d. He should try to settle with Lynette because the criminal conviction is no defense to civil liability.