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Mnenie [13.5K]
3 years ago
9

To be liable on a negotiable instrument, a person must:

Business
1 answer:
Ymorist [56]3 years ago
3 0

Answer:

The correct answer is letter "A": sign the instrument.

Explanation:

When talking about negotiable instruments, there are two types of liabilities: <em>Signature Liability </em>and <em>Warranty Liability</em>. Signature Liability refers to those documents where who signs is potentially liable for the responsibilities of the document stated. Warranty Liability is where the liability relies on the person to whom the document was transferred in good faith.

In both cases, <em>the initial holder of the document must sing the instrument so it will be clear to whom belongs the liability.</em>

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Sweet Company’s outstanding stock consists of 1,000 shares of noncumulative 5% preferred stock with a $100 par value and 10,000
frutty [35]

Answer:

preferred stockholders received $15,000 during the first 3 years

  • $2,000 in the first year
  • $6,000 in the second year
  • $7,000 in the third year

common shareholders received $25,000 in dividends during the third year.

Explanation:

preferred stock = 1,000 shares x $100 par value x 5% = $5,000

common stock = 10,000 shares at $10 par value

dividends declared and paid during the first 3 years:

year       dividends

1               $2,000

2              $6,000

3            $32,000

preferred stockholders should have received $5,000 per year x 3 years = $15,000. Preferred stockholders must be paid first, and their payment is fixed. If the dividends are not enough to pay the total amount, the remaining amount should be paid next year.

  • $2,000 in the first year
  • $6,000 in the second year
  • $7,000 in the third year

common shareholders received $32,000 - $7,000 = $25,000 in dividends during the third year.

7 0
3 years ago
Matthew manages the sales team at an information technology (IT) firm. His focus is to conduct business in accordance with his f
Romashka-Z-Leto [24]

Answer: utilitarian

Explanation:

Utilitarianism: this is one of the oldest, best known and most influential moral theories.

Like other forms of moral theories, its core principles is that whether an action is morally right or wrong depends on the final outcome or effects of such actions.

To be more specific, the only effects of actions that are relevant here are the good and bad results that they produce that such action produces nothing else matters.

7 0
3 years ago
Calculate the inventory-to-sale conversion period based on the following information: average inventories = $110,000; average re
Slav-nsk [51]

Answer:

232.08 days

Explanation:

<em>Inventory to sales conversion period is the average length of time it will take a business to sell its stock items and then replace them. It give s an indication of patronage from customers and the shorter the better.</em>

It is determined as follows:

Average inventory period

= (Average inventory/cost of goods sold) × 365 days

= (110,000/173,000) × 365 days

= 232.08 days

<em>It takes on the average 232.08 days to sell and replace stock</em>

4 0
3 years ago
After examining the records of Theta Company for the month of October, the following information is obtained: Beginning cash bal
melisa1 [442]

Answer:

the surplus of the cash is $21,000

Explanation:

The computation of the cash surplus (deficiency) for the month of October is given below:

Cash surplus is

= opening balance + cash receipt - cash payment - minimum cash balance

= $2,700 + $56,000 - $36,000 - $1,000

= $21,000

hence, the surplus of the cash is $21,000

8 0
3 years ago
A distributor with good contacts may appear to be the obvious choice in terms of generating quick sales and revenues but may not
Yuliya22 [10]

Options:

A) Select distributors; don't let them select you.

B) Look for distributors capable of developing markets.

C) Give local distributors control over marketing strategy.

D) Treat local distributors as long-term partners.

E) From the start maintain control.

Answer:B) Look for distributors capable of developing markets.

Explanation: A Distributor is a person or an organization saddled with the responsibility of transferring products from one point to another. An independent Distributor is a person or an organization which is not owned by the person or Organisations that it serves.

One of the best guildlines for selecting independent distributors is to select a distributor that is capable of developing markets which may be a new market or an existing market.

3 0
3 years ago
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