Price fixing is prohibited by the:
A. state usuary act
B. federal Regulation Z
C. Sherman Antitrust Act and state antitrust laws
D. federal Real Estate Settlement Procedures Act
Answer: C. Sherman Antitrust Act and state antitrust laws
The Sherman Antitrust Act and state antitrust laws prohibits price fixing, group boycotts, market allocation, and tie-in arrangements.
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A summary balance sheet for the Ash, Brown, and Curly partnership on December 31, 2014 is shown below. Partners Ash, Brown, and Curly allocate profit and loss in their respective ratios of 2:1:1
The partnership agreed to pay partner Brown $135,000 for his partnership interest upon his retirement from the partnership on January 1, 2015. The partnership financials on January 1, 2015 are: Assets Cash $ 75,000 Marketable securities 60,000 Inventory 85,000 Land 90,000 Building-net 110,000 Total assets $420,000 Equities Ash, capital $210,000 Brown, capital 105,000 Curly, capital 105,000 Total equities $420,000 Required: Prepare the journal entry to reflect Brown's retirement from the partnership: 1. Assuming a bonus to Brown. 2. Assuming a revaluation of total partnership capital based on excess payment. 3. Assuming goodwill equal to the excess payment is recorded.
If the instrument is order paper, how can a person become a holder?
a. Transfer of its possession. b. Its indorsement by the appropriate parties. c. Both a transfer of its possession and its indorsement by the appropriate parties are necessary. d. None of these.