There are three parties in a deed of trust financing arrangement
Indicate whether the statement is true or false
True
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A major disadvantage of the indirect method of reporting cash flows from operating activities is that the difference between the net amount of cash flows from operating activities and net income is not emphasized
Indicate whether the statement is true or false
Anna dropped off her engagement ring with Byron McKenna at B+B McKenna Jewelers to have the ring polished for her upcoming wedding. While Byron was at lunch, Betty McKenna, not knowing that the ring was there for polishing, placed the ring in a display case. Shortly thereafter, Harold entered the store, saw the ring in the display case and bought the engagement ring. What type of title does Harold have to the ring?
A. void title B. voidable title C. good title D. fraudulent title
Marshall's Mattress Company advertises a special sale on mattresses on its website. The mattresses are normally sold for $1,000, but are advertised on the website for $499. The sale price does not, however, include shipping costs. Marshall's charges $250 for shipping any mattress. To avoid any claims of deceptive advertising, Marshall's should A)?be sure that it has clear and conspicuous
disclosure of the shipping costs. B)?list the shipping cost in small print at the bottom of the Web page. C)?list the shipping cost on the last Web page. D)?avoid listing the shipping cost anywhere on the website.
An oil company purchased 10,000 acres of land on January 1, 2019, for $5,000,000, on which it developed an underground oil site. The company spent $11,000,000 to prepare the site for operation but believes that 500,000 barrels of oil can be extracted from the site over 5 years after drilling begins. The land has a residual value of $250,000. Assuming 50,000 barrels of oil were extracted from the land in 2021, how much depletion would be recorded?
A. $1,600,000 B. $1,575,000 C. $160,000 D. $157,500