The bonds offered by Leo's Pumps are callable in 3 years at a quoted price of 101. What is the amount of the call premium on a $1,000 par value bond?

A) $3.33
B) $5.00
C) $10.00
D) $13.33
E) $100.00

At a price of $20, a store can sell 24 picture frames a day. At a price of $18 the store can sell 33 picture frames a day. Since total revenue ________ by the price decrease, demand must be ________.

A) is increased; elastic
B) is increased; inelastic
C) is increased; unit elastic
D) is decreased; elastic

________ are model statutes drafted by private bodies of lawyers and scholars.

A) Precedents
B) Uniform acts
C) Ordinances
D) Equitable remedies

The Maintenance Department that services machines used in the production process is an example of a support department.

Irene buys Shawn's second-hand furniture,and they sign a contract on a Sunday.However,the contract mentions that Irene will collect the furniture on Tuesday and will pay the consideration to Shawn at that time.Analyze the legality of the contract,considering that the state where Irene and Shawn live is not very restrictive about prohibiting all business activity on Sundays.

Which of the following is the best definition of operating loan?

A) A written statement by a bank that money will be paid, provided conditions specified in the letter are met.
B) Short-term financing in which the factor purchases all of a firm's receivables and forwards the proceeds to the seller as soon as they are collected.
C) The time period between the acquisition of inventory and when cash is collected from receivables.
D) Loan negotiated with banks for day-to-day operations.
E) Costs that fall with increases in the level of investment in current assets.