The impostor rule is an exception to the general rule that negotiation of any order instrument requires a valid indorsement by the person to whose order the instrument is payable
a. True
b. False
Indicate whether the statement is true or false
True
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Corporations do not use a standard title for owners' equity
Indicate whether the statement is true or false
A major benefit of using event sponsorship is that it
A. enhances personal selling efforts. B. provides excellent support for advertisements. C. can provide large amounts of free media coverage. D. is cost-free. E. neutralizes the effects of unfavorable public relations.
Lynn, a tailor, agrees to sew a pair of drapes for Zach's living room. Zach promises to pay Lynn $300. Lynn completes the drapes using material selected by Zach, but Zach is not satisfied and refuses to pay for them. In this case:
A) whether Zach will have to pay for the drapes depends upon whether as a reasonable man he ought to be satisfied. B) the standard applied here is a subjective standard of satisfaction. C) the doctrine of frustration of purpose applies. D) the condition of satisfaction is an express condition.
Compare the markup based on cost with the markup based on the selling price of a lamp that costs $32, with a 30% markup. Find the difference in selling prices between the two markup methods
a. $4.11 b. $5.30 c. $3.95 d. $6.24