Primary government securities dealers are ________ that meet certain capital requirements and agree to actively transact with the Fed when it engages in open-market operations.
A. small investment banks and brokers
B. large stockbrokers
C. large investment banks and brokers
D. community banks and credit unions
Answer: C
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The installment method of recognizing revenue
a. should be used only in cases in which no reasonable basis exists for estimating the collectibility of receivables. b. is not a generally accepted accounting principle under any circumstances. c. should be used for book purposes only if it is used for tax purposes. d. is an acceptable alternative accounting principle for a firm that makes installment sales.
Employers are never strictly liable to any of their employees who might have suffered sexual harassment at the workplace
Indicate whether the statement is true or false
Which of the following statements is true of a typical franchise agreement?
A. It is given to the franchisee 14 days before the Franchise Disclosure Document is prepared. B. It includes the standards established by the franchisee. C. It is a long, complex document, covering 23 separate major topics and sometimes running well over 100 pages. D. It requires the franchisee to pay an initial fee.
Which of the following losses is generally covered under a commercial umbrella policy?
A) liability arising out of workers compensation laws B) liability arising out of pollution C) liability arising out of use of a business auto D) the cost of recalling defective products