Keeping your funds in liquid assets is riskier than keeping them in illiquid assets and therefore investors require a higher expected rate of return on liquid assets

Which of the following statements regarding the date of a cash dividend declaration is not accurate?

a. The dividend can be rescinded once it has been declared. b. The corporation is committed to a legal, binding obligation. c. The board of directors formally authorizes the cash dividend. d. A liability account must be increased.

Which of the following is not a term a court will supply if it is missing in the contract?

a. Price of the goods b. Time for performance c. Quantity of goods purchased d. The court will supply all the above if they are missing in a contract governed by the Code.