Statements by salespersons expressing their opinions about the products they sell constitute express warranties
Indicate whether the statement is true or false
F
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A corporation has 5,000 shares of 8 percent noncumulative preferred stock and 10,000 shares of common stock outstanding. Par value for each is $100 . No dividends were paid last year, but this year a $93,000 dividend is paid. How much of this $93,000 goes to the holders of common stock?
a. $53,000 b. $63,000 c. $73,000 d. $83,000
On June 15, a company sold merchandise on credit terms n/30, FOB destination, $1,200 . The cost of the merchandise was $400 . Assuming a perpetual inventory system is used, the entries to record the transaction are
a. a debit to Accounts Receivable and a credit to Sales for $1,200; and a debit to Cost of Goods Sold and a credit to Merchandise Inventory for $400. b. a debit to Sales and a credit to Accounts Receivable for $1,200; and a debit to Merchandise Inventory and a credit to Cost of Goods Sold for $400. c. a debit to Accounts Receivable and a credit to Sales for $1,200; and a debit to Cost of Goods Sold and a credit to Purchases for $400. d. none of these are correct.
In regards to the fact that the pricing of stocks is more difficult than the pricing of bonds, which of the below statements is FALSE?
A) Cash dividends, unlike coupons for bonds, typically change from year to year. B) The ending price of the stock at any point in time is not fixed like the par value of the principal. C) Because a stock has no maturity date, the number of its payments are unknown. D) A stock's final sale is fixed in time on its maturity date.
In Fuerschbach v. Southwest Airlines, where Fuerschbach was "arrested" by the police as a prank at work, the appeals court held that there could be a tort of assault and battery by the police because:
a. the officers did not intend to cause an offensive contact, but ultimately did cause an offensive contact b. the officers intended to cause an offensive contact, but did not actually cause an offensive contact c. the officers intended to cause an offensive contact and did cause an offensive contact d. the officers did not intend to cause an offensive contact and did not cause an offensive contact e. none of the other choices