Seattle Company issued a $48,000 face value discount note payable to First Federal Bank on September 1, Year 1. The note had a 8% discount rate and a one-year term.What is the amount of interest expense appearing on the Year 1 income statement?
A. $3840
B. $7680
C. $1280
D. $2560
Answer: C
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Emotional intelligence is defined as
A. All of these options define emotional intelligence. B. the ability to access emotion in facilitating thought. C. the ability to comprehend and analyze emotion. D. the ability to perceive and express emotion accurately.
Victoria registered a trademark under the Lanham Act. Six years later Don noticed Victoria's trademark and filed a lawsuit to enjoin her from using it. He proved he had registered the mark in several states more than ten years before Victoria obtained her trademark. Will Don prevail?
a. Probably. Victoria should have conducted a better search of trademarks registered under state laws. b. Yes. Federal law specifically states a federal trademark is not valid for any lawful owner of the same mark under state law. c. No. Don will not prevail and Victoria can continue to use the mark because she has been using it for more than 5 years. d. None of the above.
Freemen Company's western territory's forecasted income statement for the upcoming year is as follows
Sales revenue $800,000 Variable costs 500,000 Contribution margin $300,000 Fixed costs 496,000 Operating income (loss) $(196,000 ) Freemen Company's management is considering dropping the western territory. This move would be financially advantageous only if the company could eliminate $196,000 of fixed cost. Indicate whether the statement is true or false
The purchase of real property may be financed by
a. assuming an existing mortgage. b. obtaining a new mortgage from a financial institution. c. obtaining a mortgage from the seller. d. all of these.