In March, Margaret made a loan to Pete for $10,000. Three months later, she began to hear rumors about Pete's failing financial condition. When in July, Pete asked her to loan him an additional $2,000 to buy inventory, Margaret required a security interest in the inventory and also demanded that Pete secure the first loan with his personal automobile. In September, Pete filed for bankruptcy. Will
these security interests stand up?
A) Yes, if they are properly filed
B) Yes, since they are for antecedent debts
C) No, both will be voidable preferences
D) No, the security interest in the automobile would be a voidable preference
D
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For the year ended December 31, 2016, the Bowling Green Company reported income of $350,000 before provision for income tax. In arriving at taxable income for income tax purposes, the following differences were identified: Bad debt expense (but not written off) $ 8,000 Depreciation deducted for tax purposes in excess of depreciation for accounting purposes 50,000 Income for installment sales
reportable for income tax purposes in excess of income reported for financial reporting purposes 30,000 ? Assuming a corporate income tax rate of 30%, Huntsville's current income tax liability as of December 31, 2016, is A) $ 83,400. B) $101,400. C) $113,400. D) $129,000.
Write a scenario in which middle-of-the road leadership style would be the optimal choice. How would it be preferable to each of the other four leadership styles on the grid?
What will be an ideal response?
While all actions that are ethical are legal, some actions that are legal may not be ethical
Indicate whether the statement is true or false
Which of the following statements about the receivables turnover analysis is correct?
A. The days to collect will increase as the receivables turnover increases. B. Accounts receivable decline as companies sell on credit. C. Receivables turnover refers to how fast receivables are collected. D. Accounts receivable increase as companies receive payment.