The oldest and most common form of business ownership in the United States is the:
a. corporation
b. sole proprietorship
c. general partnership
d. limited partnership
e. master limited partnership
b. sole proprietorship
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Which of the following is not true of e-mail?
A. The average worker can receive hundreds of e-mails in a day. B. Texting and social networking have begun to reduce the dominance of e-mail. C. The number of e-mail users worldwide has peaked and begun to decline. D. Many computer applications require an e-mail address for access. E. Most workers feel that they can answer only a few dozen e-mails per day.
Predetermined overhead rates are calculated before the start of the accounting period, and are therefore based on estimates.
Answer the following statement true (T) or false (F)
Under the Fair and Accurate Credit Transactions Act (FACTA),
a. a creditor may not discriminate against a borrower on the basis of race, sex, religion, or age. b. a debt collector may not harass or abuse debtors. c. a credit card company must promptly investigate and respond to any consumer complaints about a credit card bill. d. a consumer has the right to obtain one free credit report every year from each of the three major reporting agencies.
Discuss whether or not the following common transactions are bailments and if so, who is the bailor/bailee, and what type of bailment is involved. A) Renting storage space in Farmer's Frank's huge barn to keep your classic car out of the snow and ice of
winter. The rental agreement provides for $100/month rent and Farmer Frank has the only access to the barn. B) Hiring a moving company to move your belongings to a new residence. C) Loaning your lawn mower to your neighbor. D) Parking your car in a "park and lock" parking lot.