In a corporation, personal property of the owners can be taken to pay the debts of the business.
Answer the following statement true (T) or false (F)
False
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Equipment with a cost of $160,000, an estimated residual value of $40,000, and an estimated life of 15 years wasdepreciated by the straight-line method for 4 years. Due to obsolescence, it was determined that the remaining useful lifeshould be shortened by 3 years and the residual value changed to zero. The depreciation expense for the currentand future years is
a. $16,000 b. $11,636 c. $11,000 d. $8,000
Your text identified an ethical issue in marketing research by pointing out that it is unethical for a firm to send out phony ________ simply to get ideas for conducting their own research
A) RFZ's B) RFD's C) RFP's D) RRR's E) RPF's
Division A of Mocha Company has sales of $155,000, cost of goods sold of $83,000, operating expenses of $43,000, and invested assets of $150,000. What is the investment turnover for Division A?
A) 1.03 B) 1.0 C) 5.17 D) 5.34
Which of the following statements is true about the Federal Arbitration Act (FAA) of 1925?
A) The FAA restricts parties from obtaining a court order to compel arbitration with an arbitration agreement. B) The FAA restricts federal courts from hearing issues of law that have been decided by an arbitrator. C) The FAA provides that arbitration agreements involving commerce are revocable contracts under ordinary circumstances. D) Breach of contract cases and tort claims are not candidates for arbitration as per the FAA.