[APPENDIX] Which of the following is true concerning a sole proprietorship?
a. It is a separate legal entity.
b. It may have more than one class of stock outstanding.
c. It is owned by one or more persons.
d. The separate entity concept applies.
d
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A value added network can detect and reject transactions by unauthorized trading partners
Indicate whether the statement is true or false
Partners A and B receive a salary of $16,000 and $14,000, respectively. They agree to share income equally. If the partnership has income of $280,000 in 20x5, the entry to close the income into their capital accounts is:
A) A, Capital 141,000 B, Capital 139,000Income Summary 280,000 B) Income Summary 280,000 A, Capital 141,000B, Capital 139,000 C) Income Summary 280,000 A, Capital 140,000B, Capital 140,000 D) A, Capital 140,000 B, Capital 140,000Income Summary 280,000
Two years ago, Synergy Inc. issued a 15-year callable bond with a $1,000 face value and a 12 percent coupon rate of interest (paid semiannually). The bond cannot be called until five years after issue, at which time the call price will equal $1,120. Currently, the bond is selling for $989.What is the bond's yield to call (YTC).
A. 7.88% B. 15.76% C. 12.45% D. 12.17% E. 12.56%
To correct abuses in the financial services industry, Congress passed an Act in 2010 that included numerous provisions to reform the financial services industry. This Act was the
A) Financial Modernization Act. B) McCarran-Ferguson Act. C) Dodd-Frank Act. D) Biggert-Waters Act.