You Call by Phone to a Concert Ticket Service and Use

question 79

Multiple Choice

You call by phone to a concert ticket service and use your credit card to purchase two tickets to the "Elvis Reincarnation Tour" concert scheduled for July 4.Assuming that Elvis truly has returned and will play at the show,which of the following is true after you hang up the phone.

• A) You have acquired no property now,but will when the concert starts.
• B) You have just acquired tangible personal property.
• C) You have just acquired intangible personal property.
• D) You have acquired no property now,but will when the concert tickets arrive in the mail.

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Definitions:

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return, assessing the value today of an amount to be received in the future.

Maturity Value

The total amount payable to an investor at the end of a debt instrument's life, including the principal and any interest.

Accrued Interest

Interest that has been incurred but not yet paid, often related to bonds or loans.

Bond Issue Costs

The expenses associated with the issuance of bonds, including legal, accounting, underwriting fees, and other related costs.