Short Answers 1
How does a suretyship differ from a guaranty relationship?
What is a suretyship is when debt has to be paid and in a guarantee relationship an undertaker is repaid for the debt?
Find out how many people file bankruptcy in a year, in the United States.
What is 370,685 people filed for bankruptcy in 2022?
. Which of the following is a factor that relates to the government category of an environmental scan:
A. Stage of the business cycle
B. Religious affiliation
C. Import/Export regulations
D. Advances in technology
What is Advances in technology?
To maintain positive, ongoing relationships with vendors, a business should
A. embrace a team-oriented mindset.
B. develop complex contracts.
C. adopt an indifferent outlook.
D. focus on its own interests.
What is develop complex contracts?
What is the purpose of giving notice of a security interest's existence?
What is a security interest is the interest in or claims against the debtor's property created a purpose of assuring payment or performance of a debt or other obligation.
Give five examples of exempt property under federal bankruptcy law.
What is motor vehicles, household appliances, jewelry, pensions, and reasonable household furnishes.
What is the Consumer Credit Protection Act and what does it do?
What is The Consumer Credit Protection Act Of 1968 (CCPA) protects consumers from harm by creditors, banks, and credit card companies. The federal act mandates disclosure requirements that must be followed by consumer lenders and auto-leasing firms?
When a customer or an employee is involved in a minor accident on the business's premises, an employee of the business should immediately
A. report the accident to a supervisor or manager.
B. offer to take the person home.
C. help the injured person move to a quiet area.
D. call the local medical emergency number.
What is report the accident to a supervisor or manager?
When is a business most likely to place a straight rebuy with a vendor?
A. To change the quantities of items that it routinely orders
B. To accommodate customers' unique requests
C. To order seasonal merchandise
D. To replenish its regularly stocked items
What is to replenish its regularly stocked items?
Can you think of any tangible or intangible goods that cannot be used as collateral.
* depends of classification of property
* accounts receivable
* bailments, bills of lading, air bills, and warehouse receipts
Why is it necessary for the debtor’s property to be in the possession of the creditor/artisan for the artisan’s lien to be effective? What must the artisan do if she or he gives up possession and is not paid?
What is debtors property must be in possession of the creditor because the lien is only effective if the creditor has it. If the artisan gives up possession and is not paid, they must prove it was bailed to the other person.
Name six different types of commercial paper.
What is
Drafts
Promissory notes
Certificates of deposit
Certified checks
Cashiers checks
Teller's checks
Jillian is working on a knowledge management project. Her company wants to capture and understand how and why its managers use a certain collaboration software at work. To help her retrieve this information, Jillian carefully observes managers going about their daily routines using the software in question. She also asks the managers various questions about the software, such as "How does this tool make your life easier?" Jillian is attempting to retrieve __________ knowledge.
A. embedded C. explicit
B. tacit D. understood
What is understood?
11. What should an electronics store do when they learn that the new iPhone is expected to be more popular than ever?
A. Build up anticipatory inventory
B. Lower the price of the iPhone
C. Use just-in-time inventory
D. Get rid of raw materials
What is build up anticipatory inventory
1. Which of the following is a factor that relates to the government category of an environmental scan:
A. Stage of the business cycle
B. Religious affiliation
C. Import/Export regulations
D. Advances in technology
What is Import/Export regulations
The debtors property must be in possession of the creditor because the lien is only effective if the creditor has it. If the artisan gives up possession and is not paid, they must prove it was bailed to the other person.
What is a claim or charge on the debtor's property that must be satisfied before the property is available to satisfy the claims of other creditors.
What are the categories of tangible goods used for collateral?
What is
Consumer goods
Farm products
Inventory
Equipment
One of the most important aspects of project management involves
A. identifying mistakes. C. buying supplies.
B. training employees. D. setting goals.
What is identifying mistakes?
Name three types of involuntary liens and describe how each handles unpaid debts.
What is mechanic's, Artisan's, and Hotelkeeper's liens.
Mechanic's liens handles unpaid debt construction or home improvement (materials can be sold and proceeds to pay off the lien)
Artisan's liens handles unpaid debt for repairs or computers (property can be held until until payment is received)
Hotelkeeper's liens for unpaid debit (of luggage and jewelry or damages to the room are paid in full)
2. During the busy tourist season, a coastal surf shop sold 398 beach balls in June, 924 beach balls in July, and 537 beach balls in August. This information reveals that
A. the supply of beach balls declined in June by 4%.
B. more tourists purchased beach balls in July than June and August combined.
C. beach-ball production rates increased in August.
D. the demand for beach balls peaked during July.
What is the demand for beach balls peaked during July?
It is a claim or charge on the debtor's property that must be satisfied before the property is available to satisfy the claims of other creditors.
What is a Lien: An encumbrance on real property or personal property to secure a debt or to protect a claim for payment of a debt. It is a claim or charge on the debtor's property that must be satisfied before the property is available to satisfy the claims of other creditors.
List three examples of intangible goods that can be used as collateral.
What is intangible assets (capitalized and off-the-balance sheet, other than goodwill), such as patents, trademarks, copyrights, trade secrets, customer lists, domain names and proprietary designs, are considered as eligible collateral.
Why is it important in project planning to build in a safety net, or padding, when identifying resources?
A. To try to cut corners C. To plan for the unexpected
B. To find substitutes D. To obtain financial support
What is to plan for the unexpected?
List five types of debts that cannot be discharged in bankruptcy.
What is
certain taxes
alimony
child support
claims for property obtained by fraud
embezzlement or larceny
Which of the following facility components are inspected by authorized officials to ensure that safety ordinances are met:
A. Elevators C. Computer networks
B. Photocopiers D. Portable cameras
What is Elevators