The correct answer is C. Time draft
Explanation:
In trade, a time draft is a document that acts as credit, this means the buyer of the product can get the product and pay it after a certain amount of time, which is stipulated through the draft. Moreover, this draft is accepted by both the buyer and the seller, and it is most commonly used in international trade. This type of draft is the one used in the case presented because the payment will occur in the future rather than immediately as it occurs in other types of drafts such as a sigh draft or in regular trade drafts. Also, in this case, the buyer obtained the good (oil painting) before payment occurs and the draft acts as a promise of paying.
Answer:
The correct answer is E.
Explanation:
Giving the following information:
Yoga Center Inc. is considering a project that has the following cash flow.
Year 0= -1200
Year 1= 400
Year 2= 425
Year 3= 450
Year 4= 475
Cost of capital= 14%
To calculate the Net Present Value we need to use the following formula:
NPV= -Io + ∑[Cf/(1+i)^n]
Cf= cash flow
For example:
Year 3= 450/(1.14^3)
NPV= $62.88
Answer:
Sanders Sporting Goods Company
The statement that supports the plaintiff's argument that Sanders is liable for sexual harassment is:
C) Sanders lacks a management response system for handling sexual harassment complaints.
Explanation:
A management response system will show that Sanders is not liable for the sexual harassment of this former employee. Sanders must have done what is required before the case gets out of its hand by ensuring that the co-worker and everyone else fully appreciates the company's policy on the issue. For example, it can publish its policy regularly to enable everyone to be on the same page.
The statement " Incorporators are required to sign the charter, deliver it to the proper state officials, and purchase a certain percentage of the initial stock offering " is FALSE.
Explanation:
Incorporation of a business means making a company officially known by the company's sole property or general partner. If a company forms, it becomes a legal structure separating the individuals who founded the company.
Even though a company does not have a office there, the company must always have a registered agent within the state of incorporation.
Incorporation provides shareholders with immunity from personal liability for the company's debts.
Answer: Please refer to the explanation section
Explanation:
The question is incomplete, the statement which we much choose from are not given in the question we will explain the question and provide a clear solution to make it easier for the student to single out a false statement.
Property acquisition was financed by two mortgage Bonds, First Mortgage Bond was $60 000 and the second mortgage bonds was $23 500. Ignoring interest rate we can assume that the Value of the Property is $83500 ($60 000 + $23 500).
Property was sold for $88000, There is a profit on sale of the property. Profit earned amounted to $4500 ($88000 - $83500). The profit on sale of property ($4500) will reported on the income statement. The property Value will be derecognized from long term assets in the the balance sheet statement.
The profits on sale of the property will form part of the net income for the year. Net income is distributed to shareholders in the form of dividends. We can therefore conclude that a portion of Profits on sale of property, if not all will be distributed to the share holders as dividends
