Except for the collecting bank, each bank in the collection process, including the payer bank, must take proper action on an "on them" check prior to its midnight deadline
Indicate whether the statement is true or false
TRUE
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Accelerated depreciation assumes all of the following except that
A) asset benefit increases with each year of use. B) the asset provides more benefit in the early years. C) obsolescence makes an asset less valuable in its later years. D) repair expense is less in the early years than in the later years.
In security-price research, which of the following is an indirect consequence of an accounting policy change?
a. The value of the firm is affected through an effect on cash flow. b. The value of the firm is affected through an effect on net income. c. The value of the firm is affected through an effect on owners. d. The value of the firm is not affected.
________ is a form of property insurance that insures an automobile from loss or damage due to causes other than collision
A) Omnibus insurance B) Comprehensive insurance C) Coinsurance clause D) No-fault automobile insurance
Scott invests money in fixing up his house, an endeavor that he expects will generate profits because he will be able to rent it out as a bed and breakfast run by his sister. This is not a security subject to federal regulation because:
a. Scott cannot actually make money from a bed and breakfast b. Scott's investment is in his own property and not in a common enterprise c. there are fewer than five people involved in the business endeavor d. Scott's investment is in a common enterprise, since his sister is involved e. none of the other choices are correct