#2

Question 1

Is interest earned on dividends left on deposit with the VA included in income?

Answer 1

No.

Question 2

Under what circumstances must a company whose securities are traded on a national exchange register under the Securities Exchange Act of 1934?
A. Companies with annual revenue in excess of $10M and 2,000 or more S/H
B. Companies with assets in excess of $10M and 2,000 or more S/H

Answer 2

Answer:

B. Companies with assets in excess of $10M and 2,000 of more S/H

Question 3

What is the warranty of title under the Sales Article of the UCC?

Answer 3

Provides that the seller deliver the goods free from any lien of which the buyer lacked knowledge when the contract was made.

Question 4

What will cause an organization to forfeit it’s tax-exempt status?

Answer 4

1. Directly participate or intervene in any political campaign
2. Have any part of net earnings insure to the benefit of any private shareholder or individual
3. Have substantial part of its activities for non-exempt activities

Question 5

When is an express warranty created?

Answer 5

An express warranty is created by the seller’s description of the goods which forms part of the basis of the bargain between the parties.