Answer:
C) Drawer
Explanation:
A drawer is an individual or institution that issues and signs a bill of exchange instructing a bank or drawee to pay the specified amount to the payee. The drawer is the person who writes and signs a cheque to a third party or payee. In a situation where the cheque is to pay oneself, the drawer is the same as the payee.
Rover and Associates is the drawer. The law firm issues the cheques instructing Portris Bank to pay the office manager the amount stated in the cheque. The office manager is an employee of Rover and Associates. The cheque may be written to Rover and Associates. If that is the case, Rover and Associates is first the drawer and the then the payee. Portis bank is the drawee.
Answer:
Description:
They underwrite, distribute, and design investment securities for corporations to help them raise capital.
Financial Institution: Investment banks
Description:
They are established by an employer to facilitate and organize employee retirement funds. They are asset pools that invest in securities that have a potential to give stable returns.
Financial Institution: Pension Funds
Description:
With the use of advanced investment techniques, these largely unregulated portfolios are invested in securities. The investment objective is to offset potential losses by investing in counterbalancing securities. They are open to only a select class of investors.
Financial Institution: Hedge Funds
Answer:
a. Show her the list and then take it away and have her testify from her 'refreshed recollection.'
Explanation:
In the given scenario Gloria testifies that when she came to work the day after the robbery, she noticed that large amounts of inventory were missing. She spent the entire day cataloguing the missing items.
In the trial she said she can remember what was stolen.
Under rule 612 the prosecutor is allowed to.show her the list and them take it away. Gloria can now testify from her refreshed memory.
On the other hand if she said she could recall the items the prosecutor would have under the hearsay exception (rule 803 (5)) requested she state the missing items.
But in this case she said she cannot recall the items
Answer:
D. Riley buys new windshield wipers for her car.
Explanation:
By definition unsought goods are those which are not purchased out of want or desire, but the purchases of which arise due to any of the following circumstances:
- danger - for example a fire extinguishers sought in the incident of a fire
- fear - for example the fear of crashing into another car (in this case)
- unexpected events - for example funeral services sought at the time of death
Answer and Explanation:
The preparation of the cost of goods sold is presented below:
Cost of goods sold statement
Opening inventory $17,200
Add:
Purchase $149,000
Freight in -$4,350
Less:
Purchase Return -$2,000
Less:
Closing inventory -$23,000
Cost of goods sold $136,850
