In Town Center Shopping Center v. Premier Mortgage, a lease for office space, made by a manager of a mortgage company, was negated by the courts because the manager did not have authority to commit her company to that
a. True
b. False
Indicate whether the statement is true or false
False
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Indicate whether each of the following items regarding internal control is true or false. ________ a) Accounting controls are composed of procedures designed to safeguard assets and ensure accounting records contain reliable information. ________ b) Administrative controls concern the reliability of the financial statements and the accuracy of the general ledger.________ c) Whenever possible, the functions of authorization, recording and custody should be exercised by the same dependable employee.________ d) Cash is most susceptible to embezzlement at the points of receipt and disbursement.________ e) A well-designed internal control system prevents collusion among employees.
What will be an ideal response?
If the yield curve is downward sloping, what is the yield to maturity on a 10-year Treasury coupon bond, relative to that on a 1-year T-bond??
A. ?The yield on the 10-year bond is less than the yield on a 1-year bond. B. ?The yield on a 10-year bond will always be higher than the yield on a 1-year bond because of maturity premiums. C. ?It is impossible to tell without knowing the coupon rates of the bonds. D. ?The yields on the two bonds are equal. E. ?It is impossible to tell without knowing the relative risks of the two bonds.
Myrna's personal residence (adjusted basis of $100,000) was condemned, and she received a condemnation award of $80,000 . Myrna used the condemnation proceeds to purchase a new residence for $90,000 . What is her recognized gain or loss and her basis in the new residence?
a. $0; $70,000. b. $0; $90,000. c. ($20,000); $90,000. d. ($20,000); $70,000. e. None of the above.
A specialist is a person on the floor of the exchange who handles trades of a particular stock in an effort to maintain a fair and orderly market
a. True b. False