If an instrument is found to be negotiable under the UCC, it may be freely traded without concern for any existing contract responsibilities if the instrument is in the possession of a holder in due course. To be a holder in due course, one must:
a. accept the transfer of the instrument with the same contract responsibilities as the person assigning the instrument
b. receive the instrument as a gift in good faith with no liabilities attached
c. present himself as having knowledge or skill specialized to the transaction and regularly deal in that kind of transaction
d. demonstrate that the instrument falls within the scope of Article 3 of the UCC, that the transaction is not for the sale of a tangible product, and that any defects in the title to the goods involved in the transaction is not known to the party
e. none of the other choices
e
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ValleyView Company acquires common stock of Kansas Enterprises for $400,000 on November 1, 2013, and designates this investment as available-for-sale. The fair value of these shares is $435,000 on December 31, 2013 . ValleyView sells these shares on August 15, 2014, for $480,000. (Refer to the ValleyView.) The journal entries to record the sale of securities available-for-sale on August 15, 2013
a. Cash.....................................................480,000 Unrealized Holding Gain on Securities Available-for-Sale.......... 35,000 Marketable Securities.................................... 435,000 Realized Gain on Sale of Securities Available-for-Sale...................................... 80,000 b. Marketable Securities..........................435,000 Realized Gain on Sale of Securities available-for-sale................................ 80,000 Cash............................................................ 480,000 Unrealized Holding Gain on Securities Available-for-Sale....................... 35,000 c. Cash.................................................... 480,000 Realized Holding Gain on Securities Available-for-Sale............. 35,000 Marketable Securities.................................... 435,000 Unrealized Gain on Sale of Securities available-for-sale.......................................... 80,000 d. Marketable Securities......................... 435,000 Unrealized Gain on Sale of Securities available-for-sale................................ 80,000 Cash............................................................. 480,000 Realized Holding Gain on Securities Available-for-Sale....................... 35,000 e. none of the above
In order to fertilize his vegetable farm, John, a farmer, needs to choose from two fertilizers: Nitro Plus and Phosphate Max. Each bag of Nitro Plus costs $7 and contains 8 pounds of nitrogen and 6 pounds of phosphate. Each bag of Phosphate Max costs $9 and contains 4 pounds of nitrogen and 8 pounds of phosphate. John’s vegetable farm requires at least 32 pounds of nitrogen and 48 pounds of phosphate. (Assume fractions of a bag are allowed). At the optimal solution, what is the amount of nitrogen from the Phosphate Max brand?
A. 11.45 B. 19.20 C. 17.65 D. 11.55
Answer the following statements true (T) or false (F)
1. In the past, outsourcing was often used tactically, as a quick-fix, short-term solution to a particular need or problem which did not form part of an overall business strategy. 2. Globalization, the Internet, growing economy and low unemployment rate, technology and deregulation are the drivers behind the rapid growth of the outsourcing industry. 3. The leaders, the newcomers and the rookies are the three categories of outsourcing countries. 4. Canada is considered a rookie outsourcing country. 5. Most of the outsourced IT contracts are for a relatively long time period, several years.
A __________ is an object or data structure that authoritatively binds an identity to a token possessed and controlled by a subscriber
What will be an ideal response?