Groups of people living within a society but outside its mainstream or dominant culture are properly known as which of the following?
A. subcultures
B. under-cultures
C. cocultures
D. Uber-cultures
C. cocultures
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If the partnership agreement does not state how profits and losses are to be shared, they are allocated according to the partners' capital interests
a. True b. False Indicate whether the statement is true or false
On January 1, Year 1, the organizers of the Fredonia Corporation obtained their charter authorizing 400,000 shares of $2 par common stock. Fredonia issued 30,000 shares of $2 par common stock for $8 per share. During Year 1, the corporation earned $820,000 in cash revenue and paid $700,000 in cash expenses, not including income tax. The company declared and paid cash dividends totaling $28,000. Fredonia Corporation is in the 30% tax bracket.Required:Using the above information, prepare an income statement and a balance sheet for the Fredonia Corporation.
What will be an ideal response?
LMN Insurance Company is concerned about its exposure to hurricane losses for property risks it insured on the Gulf Coast. LMN borrowed money from investors by issuing financial securities
LMN promised to repay the money it borrowed with interest if hurricane losses do not exceed a specified level. If hurricane losses exceed the specified level, LMN will repay less than it borrowed and use the extra money to fund hurricane losses. The securities that LMN issued are A) call options. B) futures contracts. C) weather options. D) catastrophe bonds.
Valley Farms offers to sell Whole Harvest Bakeries, Inc., five hundred bushels of wheat. Whole Harvest responds, "We agree to buy five hundred bushels only if the wheat is Grade A quality." This statement is
A. a breach. B. a counteroffer. C. a confirmation. D. an acceptance.