The banker's acceptance is:
a. a negotiable instrument.
b. a short-term financing device.
c. a time draft drawn on and accepted by a commercial bank.
d. All of the above
d
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Ethnocentrism refers to the:
a. ability to appreciate the customs and cultures of others. b. study of the development of cultures. c. tendency to believe in the superiority of one's own culture. d. None of the answers are correct.
If a business is operated by a partnership, LLC, or S corporation, then operating losses will be passed through to the individual partners or shareholders
a. True b. False Indicate whether the statement is true or false
Loaf & Biscuit Company operates a commercial dough making and packaging plant-a "major source"-that emits hazardous air pollutants for which the Environmental Protection Agency has set maximum levels of emission. The plant does not use any equipment to reduce its emissions. Under the Clean Air Act, this is most likely A) a violation
B) not a violation because dough is not considered a pollutant. C) not a violation because the plant does not use any equipment. D) not a violation because the plant is not a mobile source.
Why do investors prefer receiving cash sooner rather than later, according to finance theory?
A) Incremental profits are greater than accounting profits. B) Money received earlier can be reinvested and returns can be increased. C) Tax considerations are important when investing. D) Diversification leads to increased value.