A company borrowed $60,000 by signing a 60-day,5% note payable from its bank.Compute the total cash payment due on the note's maturity date.

What type of loan requires collateral as security for the lender?

A) lateral loan
B) unsecured loan
C) secured loan
D) installment loan

Reynolds Manufacturers Inc. has estimated total factory overhead costs of $95,000 and expected direct labor hours of 9,500 for the current fiscal year. If Job 117 incurs 2,300 direct labor hours, Work in Process will be debited and Factory Overhead will be credited for

A) $21,850
B) $2,300
C) $95,000
D) $23,000

Internal reports that review the actual impact of decisions are prepared by

A) department heads.
B) the controller.
C) management accountants.
D) factory workers.

Cooper sues Company A in state court in South Carolina, where he lives, for negligence alleging personal injury and property damage of $100,000 after a truck driven by an employee of Company A rear-ended his pickup truck. Company A is incorporated in Delaware, has its headquarters in New York, but does a substantial amount of business in South Carolina. Claiming diversity of citizenship, Company A seeks removal to federal district court, but Cooper opposes the motion. Which of the following is true regarding whether the case may be properly removed to federal district court?

A) The amount in controversy satisfies diversity requirements; and if Company A's nerve center is in a state other than South Carolina, then the case may be properly removed to federal court.
B) The amount in controversy satisfies diversity requirements; and because Company A is incorporated and has its headquarters in a state other than South Carolina, the case may be properly removed to federal court.
C) Because the amount in controversy satisfies diversity requirements and Company A is incorporated in a state other than South Carolina, the case may be properly removed to federal court regardless of where Company A's headquarters, nerve center, or principal place of business is located.
D) Because the amount in controversy satisfies diversity requirements and Company A is headquartered in a state other than South Carolina, the case may be properly removed to federal court regardless of where Company A is incorporated and regardless of the location of its nerve center.
E) Because the amount in controversy fails to satisfy jurisdictional requirements, regardless of the location of Company A, the case may not be removed to federal court.

Which of the following describes a stipulation?

A) An offeror's right to determine the manner of acceptance
B) An offeree's right to determine who to contract with
C) The court's right to provide gap-fillers in a contract
D) Additional terms in a contract in order to make it binding