What is the current APY on this credit card?
Bradley currently has a Visa card from his bank with the following terms: 21 percent on purchases, 25 percent on cash advances with a 3 percent cash-advance fee on the amount, and a default or penalty rate of 33 percent. His current statement shows a balance of $9,000. Lately, he has been having a hard time paying more than the minimum payment of 3 percent of his balance.
A) 21 percent
B) 22.99 percent
C) 23.14 percent
D) 24 percent
Answer: C
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The cases of Enron and Bernard Madoff go beyond a question of ethics because in both cases_____
A) laws were clearly broken B) many people were hurt C) billions of dollars were involved D) no harm was intended and they had good reasons for what they did
Under the doctrine of respondeat superior, an agent is liable for the principal's negligence
a. True b. False Indicate whether the statement is true or false
Rawhide Outfitters had projected its sales for the first six months of 2012 to be as follows:
Jan. $50,000 April $180,000 Feb. $60,000 May $240,000 Mar. $100,000 June $240,000 Cost of goods sold is 60% of sales. Purchases are made and paid for two months prior to the sale. 40% of sales are collected in the month of the sale, 40% are collected in the month following the sale, and the remaining 20% in the second month following the sale. Total other cash expenses are $40,000/month. The company's cash balance as of March 1st, 2012 is projected to be $40,000, and the company wants to maintain a minimum cash balance of $15,000. Excess cash will be used to retire short-term borrowing (if any exists). Fielding has no short-term borrowing as of March 1st, 2012. Assume that the interest rate on short-term borrowing is 1% per month. How much short term financing is needed by March 30, 2012? A) $70,000 B) $15,000 C) $110,000 D) $85,000
The free flow of information within a system is called:
A) open source information. B) a virtual organization. C) openness. D) enterprise wide resource availability.