When no-par common stock has a stated value, the stated value of the shares issued normally is considered the legal capital of the corporation
Indicate whether the statement is true or false
T
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The balance sheet of Old Gold Mines, a gold mining company, for the year ended June 30, 20x1, showed current assets of $6 million, noncurrent assets of $49 million, noncurrent liabilities of $14 million, and current liabilities of $4 million. Compute the amount of shareholders' equity on Old Gold Mines' balance sheet at the end of 20x1
a. $14 million b. $27 million c. $33 million d. $37 million e. $41 million
__________ is the transportation of any good or service into a country or region, from a foreign origination point.
Fill in the blank(s) with the appropriate word(s).
On February 1, Futuristic Electronics sells and delivers $10,000 worth of computer parts to Martin Business Systems to be paid for on March 1. On February 2, Martin's ceiling leaks requiring immediate repair worth $10,000
Lewis Kuhn, the contractor, refuses to do this work without security, so Martin gives Kuhn a chattel mortgage on the computer parts to get the work done. Unfortunately, Martin goes bankrupt and does not pay Futuristic. Futuristic wants to take the computer parts back, while Kuhn wants to seize them under his chattel mortgage. Which of the following is TRUE? A) The chattel mortgage is not enforceable because Martin has not paid for the parts and therefore Futuristic still owns them. B) The chattel mortgage is enforceable because ownership (title) passed on delivery of the computer parts to Martin's premises. C) The chattel mortgage is not enforceable as it is the wrong security instrument – a general security agreement should have been used. D) The chattel mortgage is not enforceable because it was taken subsequent to Futuristic's security interest in the property – i.e. the earlier security takes priority. E) The chattel mortgage is not enforceable because Futuristic has an automatic purchase money security interest in the equipment.
Reducing paper usage in an organization can be an example of green IT.
Answer the following statement true (T) or false (F)