What is the rule on priorities between liens and Article IX security interests?
A) The first to attach has priority
B) The first to record has priority
C) There are no priorities; both collect a proportionate amount
D) None of the above
D
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Mr. Lee made the following transfers this year. Which of the transfers are treated as gifts for federal tax purposes?
A. Charitable contribution to the United Way B. Payment to a hospital for the medical expenses of his 39-year old son C. Political contribution to the Democratic party D. None of the above are treated as gifts.
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A good environmental control over purchases and payables would be to have ________.
A) the accounting department independent of the sales department B) the sales department independent of the shipping department C) the purchasing department independent of the receiving department D) the information systems department independent of the accounting department