The major sources of financing for corporations are

Expenses that fall outside the regular operations of a business are ________

A) not shown in the income statement of a merchandiser B) treated as current assets and are shown as merchandise inventory C) included under the other revenues and expenses section of the income statement D) not considered for the calculation of net income

Under terms of a land sales contract from Smith to Doyle, Doyle starts making monthly payments but then defaults. He manages to avoid Smith and then leaves town. Which of the following will happen?

a. a cloud on the title is created b. the title is marketable c. Smith should obtain a deficiency judgment d. subsequent buyers need not be concerned with the actions of Doyle