Under revised Article 3 of the Uniform Commercial Code, an exception to the rule that an instrument payable on demand is not payable before the date of the instrument is made for:
A. certificates of deposits.
B. promissory notes.
C. a holder in due course.
D. checks.
Answer: D
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If the promisee entered into the contract in order to discharge a duty he or she owed the third party, then the third party is a(n) __________ beneficiary
a. express b. implied c. creditor d. donee
A creative brand that differentiates its product in a competitive market
A. avoids nonprice competition. B. sets the benchmark price. C. can get a price premium for its product. D. can move toward a flexible pricing strategy. E. will achieve the basic list price for its product.
You have the following citation: Joel Munro, 92 T.C. 71 (1989). Which of the following statements is true?
A) The taxpayer, Joel Munro, won the case because there is no reference to the IRS. B) The case appears on page 71 in Volume 92 of the official Tax Court of the United States Reports and the case was decided in 1989. C) This citation refers to a taxpayer conference between the IRS and the taxpayer. D) The case was tried in 1989 and was appealed in 1992.
Share repurchases have a tax advantage over dividends because ________
A) dividend payments are tax deductible B) share repurchases increase the value of debt C) capital gains can be deferred by long-term investors D) repurchases are associated with increased customer loyalty