As Dean calculated his current assets for his used videogame store, he was sure to include which of the following?
A. merchandise inventory
B. accrued liabilities
C. fixed assets
D. notes receivable
E. retained earnings
A. merchandise inventory
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A distribution by a sole proprietorship to the owner is called a withdrawal.
Answer the following statement true (T) or false (F)
What basic promotion objective should be sought by a producer whose product is very similar to its many competitors' products?
A. reminding B. persuading C. promoting D. informing E. communicating
Zapata, a Texas Corporation, entered into a contract with Unterweser, a German corporation, to tow Zapata's drilling rig from Louisiana to Italy. A storm arose and Zapata told Unterweser to tow the rig into Tampa, Florida. Zapata immediately filed a lawsuit in Florida against Unterweser for damages to the rig. The original contract called for "Any dispute must be heard before the London Court of
Justice." The U.S. Supreme Court held that: A) Florida has jurisdiction since that is where the oil rig is now located. B) the case should be heard in Texas or Germany because that is where the parties are located. C) the forum-selection clause is contrary to public policy and will not be enforced; either Florida, Texas, or Germany would be the correct place to hear it. D) the parties must adhere to the forum-selection clause and have the case heard in London.
Luke is 30 years old and earns an annual salary of $55,000. His wife wants to take out a life insurance policy on him until he turns 67
Using the earnings multiple approach, how large should the face value of his insurance policy be—assuming his wife can earn an annual rate of return of 8.5% on his life insurance pay off? A) $223,985 B) $1,225,462 C) $430,803 D) $6,154,330 E) None of the above