In the ordinary course of business, Xtra Credit Company sells goods to Yvon and other consumers on credit under installment sales contracts that typically require at least one year of monthly payments. Xtra does not disclose all of the credit terms to its customers. This is most likely to result in
A. a cease-and-desist order.
B. a fine.
C. no sanctions.
D. rescission of the contracts.
Answer: D
You might also like to view...
If inflation in Country X is 2 percent and 3 percent in the United States, the dollar would _____ if relative purchasing power parity holds.?
A. ?depreciate by 1 percent B. ?depreciate by 5 percent C. ?appreciate by 1 percent D. ?appreciate by 5 percent
In general, the international accounting standards provide lease criteria that are similar to the U.S. standards
a. True b. False Indicate whether the statement is true or false
Which of the following best describes a major source of secondary information on market segments?
A) primary data B) behavioral data C) syndicated data D) focus group data
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.