Answer:
Legitimate promissory notes are marketed to sophisticated, corporate investors that have the ability to thoroughly research the company issuing the notes and determine whether the issuer will be able to repay principal and interest. There have been many instances of "promissory note fraud" where unlicensed individuals push bogus promissory notes that are sold as investments that offer above-market fixed interest rates and safeguarding of principal - and most of there are frauds. This is a major concern to state regulators.
To offer a promissory note, both the salesperson and the note must be registered in the state. Only promisory notes that have maturities of 9 months or less, that are investment grade, and are sold in minimum increments of $50,000 are exempt from registration.
Finally, the tell-tale sign of fraud are:
Statements that tho notes are "guaranteed" or insured, especially by bogus foreign entities.
Promises of above-market rates fo return
Statements that the notes are "risk"free"
The labeling of a star-up company´s notes as prime
Offers of promissory notes from a stanger who does not know the costumer financial situation
Answer:
Find explanation below.
Explanation:
A branch plan is the contingency plan. It is chosen when planning for future possible occurrences. A Sequel plan on the other hand is made based on the outcome of the main plan. Therefore, a Sequel plan is made depending on whether the main plan was successful or unsuccessful.
Examples of Branch plan decisions:
- A plan to dispatch military forces to aid a fight in another country.
- Reassigning military personnel to another location.
Examples of Sequel plan decisions:
- A plan to begin administering relief operations.
- A plan to return to normal mode of operation, perhaps after a successful war.
Answer:
Indication of items erroneously stated on:
A) the income statement for the year
Salaries Expense will be understated.
Therefore, the Net Income will be overstated.
B) the balance sheet as of October 31:
Salaries Expense Payable (current liabilities) will be understated.
Explanation:
When accrued salaries are not accounted for in the financial statements for an accounting period, it means that the revenues generated for that period are not being matched with the expenses incurred in generating the revenues. Such omission does not agree with the accrual concept and the matching principle of generally accepted accounting principles. These require that expenses are accrued whether paid for or not, and that expenses are matched to the period's revenue since they are necessarily incurred in generating such revenue.
Answer:
D. All of the above are correct.
Explanation:
Carry Cost : This is the total cost incurred by an entity for taking ownership and storing inventory items, some of these costs are rent of warehouse, inventory insurance, salary of warehouse staff e.t.c.
Stock-out Costs : The is the lost of income and all the expenses associated with the inability to meet customers' orders due to shortage in inventory.
Quality Costs : This is cost incurred by a firm for ensuring that product conforms to established quality standard as well as cost incurred in investigating and correcting substandard products produced.
Shrinkage Costs :
This is the monetary value of the inventory items lost as a result of sharp practices or poor storage environment.
Purchasing Costs : This is the actual cost incurred in buying inventory and bringing it to its present location less any sales discount.
Ordering Costs : This is the entire cost incurred in processing and placing order for inventory.
We can see that all of the above are important in managing goods for sale in a retail company.
Answer: The correct answer is "A. True".
Explanation: The statement "Being an effective team leader means satisfying a demand set of essential operating responsibilities and requirements while still promoting the creativity, leadership ability, and cohesiveness of team members." is absolutely TRUE because being an effective team leader not only means fulfilling the responsibilities demanded by the position of leader but also through different motivational and communication techniques promoting creativity and good performance of each member, with the aim of increasing the team efficiency together.
