On July 1, 2016, Falcon Company received a $20,000 promissory note for services from Jordyn Company. The annual interest rate is 5%. Principal and interest are paid in cash at the maturity date of June 30, 2017. The effect on Falcon's financial statements on July 1, 2016 is as follows
a. Assets increase; owners' equity increases
b. Assets decrease and owners' equity decreases
c. Assets decrease
d. No net change in assets
a
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The board of directors carries out the day-to-day operations of a corporation
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Information sources like Wikipedia or a Google search are considered to be highly credible by a professional audience
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Hill Computers is a retailer, which buys its inventory from Acme Co on credit, giving Acme a security interest in the inventory. Hubert buys a computer from Hill in the normal course of business. Hubert's title in the computer is:
a. a good title. b. a voidable title. c. Hubert has no title in the computer. Title does not pass to Hill and therefore to Hubert until Hill pays its debt in full to Acme. d. Hubert has good title that is subject to Acme's security interest.
Which of the following criticisms focuses most directly on a macro view of marketing, rather than on a micro view?
A. Marketing exploits the poor and the uneducated. B. Much TV advertising is annoying. C. Products often wear our right after the warranty expires. D. Door-to-door salespeople are trained to be pushy. E. Prices for very similar products vary a lot from store to store.