Amendments to UCC Articles 2 and 2A were promulgated in 2003 to accommodate electronic commerce and to reflect developments in business and law and, as of 2011, these amendments had been adopted in all of the states
a. True
b. False
Indicate whether the statement is true or false
False
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The asset account, Supplies, has a balance of $700 on January 1 . During January, the company purchased $16,000 of supplies on account and the liability was appropriately recorded. A count of supplies at the end of January indicates a balance of $900 . Which one of the following is a correct amount to be reported on the company's financial statements for the month ending January 31?
a. Supplies Expense—$15,800 b. Supplies on Hand—$700 c. Accounts Payable—$15,800 d. Supplies Expense—$16,700
Listen Up! Corporation books and promotes concerts and other entertainment events, for which Listen Up! also sells tickets. In weighing a challenge to Listen Up!'s "monopolistic" ticket prices, a court looks at the relevant geographic market. This encompasses
a. only areas in which Listen Up! does not have monopoly power. b. only areas in which Listen Up! has monopoly power. c. the area in which Listen Up! and its competitors sell, and their customers buy, the tickets. d. the entire United States in all cases.
Planned obsolescencerepresents a clear violation of social responsibility.
Answer the following statement true (T) or false (F)
The primary objective of the trustee is:
a. to deplete the debtor's estate b. to protect general creditors first c. to ensure that the debtor's exempt property is liquidated d. to maximize the amount of the debtor's assets that the trustee is paid e. none of the other choices