When referring to a note receivable or promissory note

A) the maker is the party to whom the money is due
B) the note is not considered a formal credit instrument
C) the note cannot be factored to another party
D) the note may be used to settle an account receivable

Firms focusing on responsiveness tend to

A) locate facilities close to the market they serve.
B) locate facilities very far from the market they serve.
C) find the lowest cost location for their manufacturing facilities.
D) select a high-cost location to be able to react slowly.

Risk of loss cannot pass from seller to buyer unless the goods are identified to the contract.

Gloria Company had no beginning work in process. During the period 16000 units were completed and there were 1200 units of ending work in process. How many units were started into production?

A) 17200.
B) 16000.
C) 14800.
D) 1200.

Insolvency automatically results in termination of an agency relationship.

Which of the following statements about the Social Security tax is not true?

A) It is a regressive tax.
B) It is imposed on employees only.
C) It is a payroll tax.
D) It came into existence in 1935.