A ______ requires immediate payment by the drawee to the payee
a. sight draft
b. balloon draft c. bank draft
d. personal draft e. time draft
a
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The amount for which the stock can be sold on the open market is known as the ____________________
Fill in the blank(s) with correct word
Avery and Bert are partners who share profits in a ratio of 2:1 and have capital balances of $75,000 and $150,000, respectively. The partners agree to admit Carmen to the partnership. Carmen invests $75,000 for a 35 percent interest in the partnership. The new total capital balance after admitting Carmen is $300,000. The entry to record the admission of Carmen to the partnership is:
A) Cash 75,000 Carmen, Capital 75,000 B) Cash 105,000 Carmen, Capital 105,000 C) Cash 75,000 Avery, Capital 20,000Bert, Capital 10,000Carmen, Capital 105,000 D) Cash 105,000 Carmen, Capital 75,000Avery, Capital 20,000Bert, Capital 10,000
If overhead applied is less than actual overhead incurred, it is:
A. Expected. B. Underapplied. C. Overapplied. D. Normal. E. Fully applied.
The Arkansas state legislature enacts a statute that prohibits the advertising of video games "because the games might be harmful to minors.". Despite this new statute, the president of Games Marketing, Inc (GMI), orders GMI marketers to place ads in
various media. When a GMI ad appears on HDTV, a local television station, GMI and HDTV are charged with violating the statute. What is the defendants' best defense against a conviction?