Ix Company issued 14,000 shares of $10 par value common stock at a market price of $20. As a result of this accounting event, the amount of stockholders' equity would:
A. increase by $280,000.
B. increase by $140,000.
C. be unaffected.
D. increase by $180,000.
Answer: A
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A major difference between committed and discretionary fixed costs is that
a. incurring committed fixed costs is less risky than using discretionary costs. b. managers are usually responsible for committed fixed costs but not for discretionary fixed costs. c. incurring discretionary fixed costs rather than committed fixed costs gives a company more flexibility in controlling costs. d. companies are using more discretionary fixed costs because labor is easier to "remove" than technology.
An obligation to pay a negotiable instrument subject to conditions precedent is known as:
a. primary liability. b. secondary liability. c. acceptance. d. dishonor.
A preferential transfer is a payment made to an existing creditor in excess of what would have been received in a Chapter 7 liquidation
Indicate whether the statement is true or false
The chain of Mega Hardware stores agreed with Lock Tight Manufacturing not to carry any brand of locks and door handles other than those manufactured by Lock Tight. Mighty Lock threatened to sue for antitrust violations. On what basis and under what statute(s) would Mighty Lock sue?
What will be an ideal response?