Pamela is planning to sell her home decorating store to her daughter. Pamela has:
a. a greater duty to reveal problems in the business because her daughter assumes she will be honest.
b. no duty to disclose hidden defects in the business.
c. a lesser duty to reveal problems in the business because she has a relationship of trust with the buyer.
d. a duty to report only any latent defects she knows about that her daughter should not be expected to discover herself.
a
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Martin Ortner holds a $200,000 portfolio consisting of the following stocks: Stock Investment Beta A $50,000 0.95 B 50,000 0.80 C 50,000 1.00 D 50,000 1.20 Total $200,000 What is the portfolio's beta?
A. 0.938 B. 0.988 C. 1.037 D. 1.089 E. 1.143
A plumber hired to redo the plumbing in a building is an independent contractor and an agent of the owner of the building
a. True b. False Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. A petty cash fund may be established for minor expenditures, such as postage. 2. A petty cash fund is established by making a check payable to Petty Cash, cashing the check, and placing the funds in the cash register. 3. The journal entry to record the set-up of a petty cash fund is to debit Petty Cash and to credit Cash. 4. The total of cash in the petty cash box plus the amount of the petty cash ticket receipts should total the beginning amount of the petty cash fund. 5. Because petty cash funds are for small dollar amounts, internal control policies to govern the fund are not necessary. 6. Syrio's Snowboards has decided to increase its petty cash fund from $50 to $100. The journal entry to record this increase will include a debit to petty cash for $100.
Diversity
What will be an ideal response?