Matching
8. Case law a. Primary source
9. Legal encyclopedia b. Secondary source
10. Constitution
11. Statutes
12. Treatise
13. Digest
14. Regulations
8. *a
9. *b
10. *a
11. *a
12.*b
13.*b
14.*a
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Which of the following is one of the levels of needs on Maslow’s hierarchy of needs?
A. drive B. mental C. grit D. esteem
Which of the following represents the amount of equity that a company generates through the sale of stock to investors?
a. Long–term liability b. Contributed capital c. Intangible assets d. Retained earnings
Lucy has been constantly overstepping the credit limit on her credit card for the past five months. In this case, Lucy's financial advisor will most likely advise her to:
A. approach the issuer of the credit card to increase the credit limit for future transactions. B. switch to a different credit card issuer who has better plans on credit limits. C. continue using the card until the issuer sends a notice. D. place a high priority on eliminating her credit card balance as quickly as possible.
Martin operates a law practice as a sole proprietorship using the cash method of accounting. Martin incorporates the law practice and transfers the following items to a new, solely owned corporation.?Adjusted BasisFMVCashEquipmentAccounts receivableAccounts payable (deductible expenses)Note payable (on equipment)$10,000 80,000 0 0 50,000$ 10,000 100,000 120,000 60,000 50,000Martin must recognize a gain of ________ and has a stock basis of ________:
A. $0; $40,000 B. $20,000; $30,000 C. $20,000; $40,000 D. $0; $30,000