All of the following are required for a deed to be valid EXCEPT
A) Date
B) Legal description
C) Name of the grantee
D) Signature of the grantee
Answer: D) Signature of the grantee
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Which of the following is true of an unqualified indorsement?
A) It does not limit or disclaim liability. B) It obligates the indorser to pay for the instrument. C) It guarantees payment of the instrument if the maker defaults. D) It protects subsequent indorsees from liability.
A company's cash sales for May are $300,000, its accounts receivable payments for May are $200,000, its beginning cash for May is $50,000, and there are no other cash inflows for May
Its accounts payable payments for May are $250,000, its wages and salaries for May are $100,000, its interest payments for May are $50,000, and there are no other outflows for May. What is the company's ending cash balance for May? What will be an ideal response?