The National Conference of Commissioners on Uniform State Laws:
a. was created by President Bill Clinton to study and report on the Uniform Commercial Code.
b. is another name for the American Law Institute.
c. has drafted only five uniform laws: the UCC, the Uniform Partnership Act, the Uniform Limited Partnership Act, the Uniform Probate Code, and the Model Business Corporation Act.
d. has drafted over 250 uniform laws.
d
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Relative advantage of an innovation refers to the degree to which ________
A) it matches the values and experiences of the individuals B) it is difficult to understand or use C) it can be tried on a limited basis D) it appears superior to existing products E) the benefits of use are observable or describable to others
U.S. GAAP and IFRS provide criteria for distinguishing operating leases from capital leases. Which of the following is/are not true?
a. U.S. GAAP provides four criteria, any one of which qualifies a lease as a capital lease. b. IFRS provides general criteria for identifying the entity enjoying the rewards and incurring the risk. c. Firms can currently apply the fair value option to capital leases. d. The FASB and the IASB have undertaken a joint project involving the lessee's accounting for leases which may result in treating all leases as capital leases. e. all of the above
Which of the following observations concerning claims by general unsecured creditors is NOT true?
A. The amounts to be paid to them are usually stated as a percentage of the total claim. B. They often receive less than the full amount of their claim. C. They are entitled to "preference payments" at the discretion of the debtor's management. D. They are paid only after secured creditors and unsecured creditors with priority are satisfied to the extent of any legal limits.
Random samples of size 81 are taken from an infinite population whose mean and standard deviation are 200 and 18, respectively. The distribution of the population is unknown. The mean and the standard error of the mean are
a. 200 and 18 b. 81 and 18 c. 9 and 2 d. 200 and 2