For which of the following would an organization most likely engage in new-task buying?
A. a small portable welding machine for use in making repairs
B. a new desk chair to replace one that had broken
C. a new desktop copying machine
D. dishwashing detergent for use in a restaurant
E. a 10,000-square-foot prefabricated steel building for use as a warehouse
Answer: E
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Isaac applied for a loan from Livingstone Bank and was denied the loan two weeks later. He discovered that the reason behind the denial was that the bank considered him a huge credit risk because a credit report stated that he was an alcoholic. Isaac claimed that this information was not true. Which of the following acts will allow Isaac to approach Livingstone Bank for reconsideration of his loan application?
A. Equal Credit Opportunity Act B. Fair Credit Billing Act C. Fair Debt Collection Practices Act D. Fair Credit Reporting Act
Andrew and Martha license each other to use their patents. They agree not to license their patents to anyone else without asking for the other's permission first. Which of the following statements is true of Andrew and Martha's agreement?
A) This arrangement must be registered in court. B) This arrangement constitutes an unlawful tying arrangement. C) This arrangement constitutes unlawful cross-licensing. D) This arrangement is legal and valid.
Funds supplied by common stockholders mainly include capital stock, paid-in capital, and retained earnings, while total equity is comprised of common equity plus preferred stock.
Answer the following statement true (T) or false (F)
Derrick, a finance graduate, has joined an accounting firm. The firm opens a bank account for him in which his salary gets automatically deposited. He receives a modest but consistent amount of interest on the deposited amount. He does not use the money from the account for his daily expenses but keeps it aside to cover major future expenses. In the context of this scenario, which of the following accounts has the firm opened for Derrick?
A. A concentration account B. A basic checking account C. A fixed deposit account D. A savings account