Wayne sells James a forklift, but retains a security interest in the equipment. Wayne no longer has an insurable interest in the forklift since title has passed to James
a. True
b. False
Indicate whether the statement is true or false
False
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The entries that transfer the balances of the temporary owner's equity accounts to the permanent owner's equity account are called
a. adjusting entries. b. closing entries. c. reversing entries. d. general journal entries.
Which one of the following is not a cash equivalent?
a. 30-day certificate of deposit b. 60-day commercial paper c. 90-day U.S. treasury bill d. 180-day note issued by a local or state government
When a company chooses to divest a particular strategic business unit, it ________
A) increases the advertising budget for that strategic business unit B) invests more in the strategic business unit to build its market share C) sells off or phases out the strategic business unit D) invests just enough in the strategic business unit to keep its market share at the current level E) gradually increases investment in the strategic business unit over time to maximize profits
Arbitration should be avoided because it is a slow and costly process
Indicate whether the statement is true or false.