Which statement is correct regarding SIMPLE retirement plans?
A. This plan can only be adopted by employers with 50 or fewer employees.
B. Only the employer can contribute to the plan.
C. Employer contributions must vest within three years.
D. SIMPLE plans are not subject to nondiscrimination rules.
Answer: D
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Mortgage contracts give the lender the right to be paid from the cash proceeds of the sale of a borrower's assets identified in the mortgage if the borrower fails to make the required payments.
Answer the following statement true (T) or false (F)
Which of the following contemporary organizational designs everyone in the firm being engaged in identifying and solving problems to continuously improve and achieve the firm’s objectives through knowledge sharing within and outside the firm?
a. team organization b. virtual organization c. modular organization d. learning organization
A rejection of an offer is generally not effective until it is received by the offeror
Indicate whether the statement is true or false
Supermart, Inc completed the following treasury stock transactions in 2016
Mar. 3 Purchased 1,800 shares of the company's $ 3 par value common stock as treasury stock, paying cash of $ 10 per share. Mar. 17 Sold 400 shares of the treasury stock for cash of $ 12 per share. Mar. 25 Sold 600 shares of the treasury stock for cash of $ 7 per share. (Assume the balance in Paid-In Capital from Treasury Stock Transactions on March 24 is $ 1,200.) Journalize these transactions. Explanations are not required. How will Supermart, Inc report treasury stock on its balance sheet as of December 31, 2016? What will be an ideal response