When a company discounts a note receivable at the bank, it has a contingent liability
Indicate whether the statement is true or false
T
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Luke Corp budgeted $500,000 of overhead costs for the year. Actual overhead costs for the year are $450,000 . Luke's plantwide allocation base, machine hours, was budgeted at 100,000 hours. Actual machine hours are 180,000 . Budgeted units to be produced were 200,000 units. Luke's plantwide factory overhead rate for the year is ________
a. $2.50 b. $5.00 c. $1.50 d. $4.00
All adhesion contracts are unconscionable
Indicate whether the statement is true or false
Firms that have operations or subsidiaries located in many countries are referred to as
A. multinational enterprises. B. strategic alliances. C. joint ventures. D. international marketers. E. export alliances.
Opalina asks Paolo, who does not understand English, to sign what Opalina says is an application to open a bank account. In fact, the "application" is a note. If sued on the note by an HDC
A. Paolo must pay the note. B. Paolo's best defense would be fraud in the execution. C. Paolo's best defense would be fraud in the inducement. D. Paolo's best defense would be mistake.