Modigliani and Miller suggest that the value of a firm is not affected by the firm's dividend policy, due to ________
A) the relevance of dividends
B) the clientele effect
C) the informational content
D) the optimal capital structure
B
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Specific reports and other documentation, called process documents, must be produced periodically during systems development to make development personnel accountable for faithful execution of systems development tasks
Indicate whether the statement is true or false
A person could create a negotiable instrument in pencil on a piece of wrapping paper.
Answer the following statement true (T) or false (F)
Southern Fuels Co and Langham-Hill Petroleum, Inc are both in the business of buying and selling large quantities of petroleum products. In October, the parties entered into a fixed price contract wherein Southern agreed to purchase 4.2 million gallons
of No.2 fuel oil at a specified price per gallon to be delivered in four monthly installments. The contract included a force majeure clause. The first three monthly shipments of oil were purchased by Southern as agreed. In January of the next year, the price of oil in the world market collapsed as a result of Saudi Arabian attempts to regain its share of the world oil market. Southern refused to purchase the last shipment under the contract. Southern informed Langham-Hill that because the drop in world oil prices was caused by Saudi Arabians who were "outside Southern's control" that it was invoking the force majeure clause. Langham-Hill sued for damages in the amount of $306,075 . What is a force majeure clause? Southern's basic argument is that it can now buy oil at a substantially lower price. Will Southern succeed on this basis?
Indicate whether each of the following statements is true or false________ a) The general ledger is often called the book of original entry.________ b) Transactions are first recorded in the journal and then transferred to the ledger.________ c) The process of making entries into a journal is called posting.________ d) The general ledger is an example of a source document.________ e) The list of a business's ledger accounts and their account numbers is called a chart of accounts.
What will be an ideal response?