In the Carter v. Tokai Financial Services, Inc case, the agreement was found to:
a. fit within the definition of a secured transaction.
b. be governed by UCC Article 9.
c. be for an initial term of five years, which ARC had an option to renew for nominal consideration.
d. be a true finance lease.
d
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In the opening paragraph of an application letter, it is vital to
A) indicate what you are looking for in a dream job, and how the open position matches your goals. B) identify the position you are applying for and your salary range. C) explain how you can help the company meets its needs. D) let the employer know highlights from your résumé. E) make sure the employer understands that you need a response within 24 hours.
A product is in the maturity stage of the product life cycle, and the company decides to modify the marketing mix. Which of the following steps is the company most likely to take?
A) use aggressive sales promotions B) change features of the product C) improve product quality D) find new uses for the product E) explore new market segments
Licensing requires the licensee to pay a royalty to the licensor in return for permission to copy the patent, trademark, or copyright.
Answer the following statement true (T) or false (F)
A company that uses the perpetual inventory system purchases inventory for $63,000 on account, with terms of 2/10, n/30. Which of the following is the journal entry to record the payment made within 10 days?
A) a debit to Accounts Payable for $63,000, a credit to Cash for $61,740, and a debit to Merchandise Inventory for $1,260 B) a debit to Accounts Payable for $63,000, a credit to Merchandise Inventory for $1,260, and a credit to Cash for $61,740 C) a debit to Merchandise Inventory for $1,260, a debit to Accounts Payable for $63,000, and a credit to Cash for $64,260 D) a debit to Accounts Payable for $61,740, a debit to Merchandise Inventory for $1,260, and a credit to Cash for $63,000