Commerce LLC owes Data Analysis Company $2,000. Commerce executes a note to Data as security for the debt. This security
A. does not constitute sufficient consideration for HDC status.
B. does not satisfy the value requirement for HDC status.
C. satisfies the consideration requirement for HDC status.
D. satisfies the value requirement for HDC status.
Answer: D
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Fantastic Fabricating uses the FIFO method in its process costing system. Beginning inventory in the mixing processing center consisted of 4,000 units, 75 percent complete with respect to conversion costs. Ending work in process inventory consisted of 3,000 units, 60 percent complete with respect to conversion costs. If 11,200 units were transferred to the next processing center during the
period, the equivalent units for conversion costs would be a. 12,400 units. b. 10,000 units. c. 11,200 units. d. 12,200 units.
What is the standard for pollution control equipment under the 1990 Clean Air Act amendments?
A) Best available technology B) Maximum achievable control technology C) Current available technology D) None of the above
For young managers who see themselves as free agents, behavioral controls such as rewards and culture can be an effective way to enhance organizational loyalty.
Answer the following statement true (T) or false (F)
A company reported net income of $150,000 for the current year, but its cash balance decreased by $40,000. Which financial statement should management refer to for an explanation of this situation?
A. Balance Sheet B. Income Statement C. Statement of retained Earnings D. Statement of Cash Flows