Three torts comprise the misuse of legal procedure: malicious prosecution, wrongful criminal proceedings, and verbal abuse
Indicate whether the statement is true or false
False
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If a company purchases $3,200 worth of inventory with terms of 2/10, n/30 on March 3 and pays March 12, then the amount paid to the seller would be
a. $3,136 b. $3,150 c. $3,168 d. $3,200
On January 1, 2018, Gadsby Cabinetry Company purchases $300,000 of equipment by paying $50,000 in cash and signing a 10-year mortgage note at 13% for the balance. Gadsby will make yearly payments of $46,072. The amortization schedule for the first five payments is provided.
Prepare the journal entries for the purchase of the equipment and for the January 1, 2019 mortgage payment. Omit explanations.
Under the voucher system, every transaction is recorded at the time of
A) requisitioning B) ordering C) incurring D) paying
Which of the following statements is true of a hostile takeover?
A. A hostile takeover results when management wants the firm to be taken over. B. A hostile takeover is most likely to occur when a firm's stock is undervalued relative to its potential. C. After a hostile takeover, managers of the acquired firm generally retain the positions they had prior to the takeover. D. A hostile takeover does not allow managers to take actions that maximize stock prices. E. A hostile takeover results in poor management and inefficient operations after the takeover is completed.