Answer:
d. Yes, the offeror must be a merchant, pursuant to the UCC definition of merchant.
Explanation:
The Uniform Commercial Code (UCC) establishes that firm offers can only be made by merchants. They also apply only to the sale of goods, but the baseball card is a type of good.
The problem is that Debbie is not probably a merchant. In order for her to be considered a merchant, she would need to be in the business of buying and selling baseball cards on a regular basis.
Answer: The correct answer is "A. research and development".
Research and development are <u>NOT</u> considered as one of the three primary functions that all organizations perform.
Explanation: The basic operating cycle of a company is buy-sell-collect-pay. In some cases, companies can produce the good they sell or directly re-sell it. This implies production, operation and marketing activities to increase sales and for an adequate control of these you need accounting.
Only in particular cases do companies engage in research and development, but it is not something basic.
Answer:
ROI = Net operating income x 100
Average operating assets
ROI = $1,924,320 x 100
$6,000,000
ROI = 32.1%
The correct answer is C
Explanation:
ROI is the ratio of net operating income to average operating assets multiplied by 100.
Answer:
Journal Entry to record the first interest payment
June 30, 2019
Dr. Interst Expense $19,979.32
Dr. Premium on Bond $1,620.68
Cr. Cash $21,600
Explanation:
First, we need to calculate the premium on bond amortization as follow
Premium on bond amortization = Coupon Payment - Interest Expense
Premium on bond amortization = ( $480,000 x 8% x 6/12 ) - ( $499,483 x 8% x 6/12 )
Premium on bond amortization = $21,600 - $19,979.32
Premium on bond amortization = $1,620.68
