A(n) ______ has the same contract responsibilities as an assignee under a nonnegotiable instrument
a. holder in due course
b. ordinary holder c. regular holder
d. nonnegotiable holder e. temporary holder
b
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Analytical symptoms for unrecorded notes and mortgages payable include which of the following?
a. Significant increases in recorded debt b. Unreasonable relationships between interest expense and recorded liabilities c. Recorded amounts of notes payable, mortgages payable, and other debts that appear to be too high d. Significant sales of assets with not much cash flow
Management, under the oversight of the firm's governing board (or boards), sets the firm's strategies. Such strategies might include:
a. determining the firm's lines of business. b. determining the firm's geographic locations. c. degree to which a given business unit will engage in new product development. d. all of the above. e. none of the above.
A 10-year bond with a $1,000 face value and 6% coupon rate is currently selling in the bond market for $700. Its yield to maturity is (approximately)
A) 6%. B) 7%. C) 8.6%. D) 10.6%.
Even if an obvious, significant clerical error exists in a written contract, the contract is enforceable.
Answer the following statement true (T) or false (F)