The Incoterm for the situation when carriage and insurance are paid to a specified destination, while risk passes to the buyer when the goods are handed to the carrier, is
A. FAS.
B. CIF.
C. DAT.
D. CIP.
E. CPT.
Answer: D
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Morris Company established a petty cash fund with a $600 balance. Which of the following statements is incorrect?
A) A journal entry is needed to debit the Cash account and credit the Petty Cash account for $600. B) There is no net effect on current assets. C) The sum of the cash plus the total of the petty cash tickets should equal $600 at all times. D) The petty cash custodian cashes a check for $600 and places the currency in the petty cash fund box.
Tarletto Inc.'s current year income statement includes a $229,000 gain realized on the exchange of an old business asset for a new business asset. If the exchange is nontaxable, Tarletto's book basis in the new asset is $229,000 greater than its tax basis.
Answer the following statement true (T) or false (F)
Most states treat a partnership as an aggregate for most purposes.?
Indicate whether the statement is true or false
Suppose the current spot rate is $1.29/€. What is your payoff if you purchase a down-and-in put option on the euro with a strike price of $1.31/€, a barrier of $1.25/€, and a maturity of 2 months? When would someone want to do this?
What will be an ideal response?