All of the following are processed by the Fixed Asset System except
a. sale of unneeded equipment
b. purchase of raw materials
c. repair of production equipment
d. purchase of a new plant
B
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How do the practices of high-low pricing and everyday low pricing differ?
What will be an ideal response?
CASE 21.2 SEC v. Edwards (2004) involved sales of interests in pay telephones with a question before the U.S. Supreme Court of whether a moneymaking scheme falls outside the definition of an investment contract because the promised rate of return is fixed, rather than variable. How did the Court rule?
a. The Court held that a promise of a fixed rate of return did not prevent the arrangement from being an investment contract. b. The Court held that a promise of a fixed rate of return prevented the arrangement from being an investment contract. c. The Court held that a promise of a fixed rate of return did not prevent the arrangement from being an investment contract, but only because the underlying company went into bankruptcy. d. The Court held that a promise of a fixed rate of return prevented the arrangement from being an investment contract, but only because the underlying company went into bankruptcy.
Which of the following situations would be covered under Section II of a homeowners policy?
I. The insured is sued by his girlfriend because he infected her with the AIDS virus. II. The insured's son is sued after a friend suffered serious injury as a result of using illegal drugs sold to him by the son. A) I only B) II only C) both I and II D) neither I nor II
A company's cash sales in January are $200,000, its accounts receivable payments for January are $100,000, its beginning cash for January is $50,000, and there are no other cash inflows for January
Its accounts payable payments for January are $200,000 and its wages and salaries for January are $100,000, and its interest payments for January are $50,000. What is its net cash flow for January if there are no other outflows for January? What will be an ideal response?