The maximum rate of interest for credit transactions is established by
A. state law.
B. federal law.
C. the Federal Reserve Board.
D. the FTC.
Answer: A
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The following information has been provided to you by the Smith Corporation for the year ending December 31, 2018:The numerator used in the calculation of basic earnings per share was $797,000. Cash dividends were paid to the common shareholders. 8% convertible bonds with a par value of $1,000,000 were issued on July 1, 2018. The corporation's marginal income tax rate is 40%. 6% convertible preferred stock with a par value of $800,000 were outstanding during the entire year. Assuming that both the bonds and preferred stock are dilutive, what is the numerator that should be used in the calculation of diluted earnings per share?
A. $773,000 B. $821,000 C. $893,000 D. $869,000
Customers are likely to put up with poor-quality products only if your organization is
A. underperforming in innovation. B. using computerized customer service. C. the only one of its kind. D. in a very competitive industry. E. lacking strong environmental policies.
Anyone can circumvent encryption software or other technological antipiracy protection without penalty.
Answer the following statement true (T) or false (F)
Which of the following is an assumption made in the preparation of the financial statements?
A) Financial statements are prepared for a specific entity that is distinct from the entity's owners. B) The current market value is assumed to be less relevant than the original cost paid. C) The preparation of financial statements for a specific time period assumes that the balance sheet covers a designated period of time. D) Financial statements are prepared assuming that inflation has a distinct effect on the monetary unit.