Consider the TVM equation: Present value and time period are inversely related
Indicate whether the statement is true or false.
Answer: TRUE
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In 1992, the North Carolina Supreme Court ruled in a case entitled Goodman v. Wenco Foods, Inc, that when a substance in food causes injury to a consumer of the food, it is not a bar to recovery against the seller that the substance was natural to the food. If, in a 2008 case involving a consumer's injury caused by a fish bone in a bowl of fish chowder, the court followed the decision in Goodman
v. Wenco Foods, Inc, the court's action in the second case is an example of a. stare decisis. b. statutory law. c. public law. d. criminal law.
Margaret has $3,200 cash after selling off her television, sound system, and personal computer. She has debts of $4,800 owing to the following creditors: Anna - $900 Bob's Shop - $1500 Hyatt's - $2100 Jones - $300 If they all agree to a composition, how much will Hyatt's be able to collect?
a. $2,100. b. $1,400. c. $700. d. $1,050.
Cathy obtains from Depend Insurance Company a policy that provides if a dispute arises between the parties concerning the settlement of a claim, the dispute must be submitted to an impartial third party, not a court, for resolution. This is
A. an antilapse clause. B. an arbitration clause. C. an appraisal clause. D. an incontestability clause.
ABC Corp. has estimated the following income statement for its next fiscal year
Sales $20,000,000 Variable costs 6,000,000 Revenue before fixed costs 14,000,000 Fixed costs 9,000,000 EBIT 5,000,000 Interest expense 900,000 Earnings before taxes 4,100,000 Taxes (35%) 1,435,000 Net income $2,665,000 a. What is the break-even point in sales dollars for the firm? b. If the average unit cost is $20, what is the break-even point in units?