A time draft is payable at a definite future time
Indicate whether the statement is true or false
True
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Which of the following unsecured creditors has first priority?
A. The court, for its costs. B. An ex-spouse who is due alimony. C. Unpaid employees. D. General creditors.
In recent years, changes in technology have ______.
A. blurred the differences between products and services B. made the differences between products and services more distinct C. required products to be offered with services D. made products more important than services
Which of the following is considered an operating activity on the statement of cash flows prepared using the direct method?
A) dividends paid to stockholders B) sale of merchandise inventory for cash C) payment to purchase equipment D) the receipt of cash from sale of equipment
Which of the following is/are not true concerning an employee stock options' benefit element?
a. One cannot measure the amount of the benefit element before the exercise date. b. Stock options with exercise prices less than the current market price of the stock have a higher value, other things equal, than stock options with exercise prices exceeding the current market price of the stock. c. Stock options that are "in the money" have a higher value, other things equal, than stock options that are "out of the money". d. A stock option whose exercise price exceeds the current market price has economic value because of the possibility that the market price will exceed the exercise price on the exercise date . e. none of the above