Ping's debt to Oak Furniture Warehouse is past due. Oak obtains a judgment against Ping, but Ping refuses to pay it. Oak asks the court for an order that directs the sheriff to seize and sell any of Ping's nonexempt real or personal property that is within the court's geographic jurisdiction. This is a request for
A. a writ of execution.
B. a composition agreement.
C. an order that would violate most state laws.
D. an order of garnishment.
Answer: A
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Exhibit 8-2 The Dormer Company uses the gross profit method to estimate its inventory in interim financial statements. The markup on cost is 50%. The following information is available: January 1, 2016, inventory balance $12,500 Purchases 25,000 Sales during January 24,000 ? ? Refer to Exhibit 8-2. The estimated cost of goods sold at January 31, 2016, is
A) $25,500 B) $21,500 C) $16,000 D) $12,000
A company that is looking to maximize its market share would do well to follow ________ pricing
A) markup B) market-penetration C) market-skimming D) survival E) target-return
Apogee Fashions uses standard costs for their manufacturing division. The allocation base for overhead costs is direct labor hours. From the following data, calculate the fixed overhead allocated to production based on direct labor hours (DLHr).
A) $23,000
B) $60,000
C) $40,000
D) $20,000
When a business pays cash for salaries, assets decrease and expenses ________.
Fill in the blank(s) with the appropriate word(s).