A complaint is the first step in starting a civil litigation suit
Indicate whether the statement is true or false
TRUE
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Suppose the exchange value of the British pound is $2 per pound while the exchange value of the Swiss franc is 50 cents per pound. The cross-exchange rate between the pound and the franc is
a. 1 franc per pound. b. 2 francs per pound. c. 3 francs per pound. d. 4 francs per pound.
Which of the following statements is CORRECT?
A. An investment that has a nominal rate of 6% with semiannual payments will have an effective rate that is smaller than 6%. B. The present value of a 3-year, $150 annuity due will exceed the present value of a 3-year, $150 ordinary annuity. C. If a loan has a nominal annual rate of 8%, then the effective rate can never be greater than 8%. D. If a loan or investment has annual payments, then the effective, periodic, and nominal rates of interest will all be different. E. The proportion of the payment that goes toward interest on a fully amortized loan increases over time.
In which of the following situations is the seller a merchant under Article 2 of the UCC?
A. Paul, a full-time college student, sold his textbooks to State Bookstore. B. Randall, a part-time college student and full-time father, sold his textbooks to a friend. C. Zompa Inc., a toy manufacturer, contracted to sell dolls to TonTon Department Store. D. Mabel, a stay-at-home mom, sold her car to her friend Gloria.
Which method of preparing the statement of cash flows is required by U.S. GAAP?
a. direct b. indirect c. funds flow d. either direct or indirect may be used if appropriate note disclosure is included e. either direct or funds flow may be used if appropriate note disclosure is included