Answer: c. $94,240
Explanation:
On December 31, 2005, one payment has already been made which would mean that only 7 payments are left. As the first of these remaining 7 will be paid the year after, this is an ordinary annuity.
Note payable value = Present value of seven $20,000 payments
= 20,000 * Present value of ordinary annuity of 1 at 11% for 7 years.
= 20,000 * 4.712
= $94,240
Answer:
[C] decides to borrow funds with a promissory note in writing from an individual client.
Explanation:
NASSA Model Rule on Unethical Business Practices of Investment Advisers and Federal Covered Advisers stimulates that an investment adviser could borrow money from either the shareholder or institutional lending facility. However, an investment adviser can not borrow money from an individual client. Therefore, the correct is the option [C].
Answer:
medium of exchange. since it is being offered in exchange for the car
a example is a store like Lowes, or home depot
Answer:
c) Beth Teal pays $15,000 a year to her gardener, Ben. Beth is Ben's grandmother.
Explanation:
A related party transaction is any business transaction that takes place between entities that share some type of common interest, e.g. a parent company leasing a factory to one of its subsidiaries. They are legal, but the potential for conflicts of interest exist. Following the example, if the lease price is higher than fair market price, then the transaction could be considered fraudulent. The SEC requires that publicly traded corporations disclose all related party transactions.
