Usury is charging an interest rate higher than the maximum permitted by law
Indicate whether the statement is true or false
True
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Assume that a truck manufacturer has light trucks with the following fuel economy. Which would NOT meet the CAFÉ standard?
a. 28.8 miles per gallon b. 32.3 miles per gallon c. 30.6 miles per gallon d. 27.2 miles per gallon
Which of the following is not a reason why the auditor needs to take special care to review significant estimates in the financial statements?
a. Organizations may try to use the estimates to "smooth" earnings. b. Organizations may create hidden reserves in unusually good years that can be used in years when real profits do not meet expectations. c. Companies may underestimate liabilities or impairment of asset values to achieve reported earning goals in years when real profits to not meet expectations. d. Companies may try to overestimate liabilities in computing leverage ratios.
Always use a comma before somebody's name in a sentence
A) True B) False
Which of the following statements about financial leverage is true?
A) Financial leverage involves the incurrence of fixed operating costs in the firm's income stream. B) Financial leverage is the responsiveness of the firm's EPS to fluctuations in EBIT. C) Financial leverage reduces a firm's risk. D) Financial leverage is the responsiveness of the firm's EBIT to fluctuations in sales.