Alice, a Resident of Ohio, Has Obtained a Valid Judgment

question 63

Multiple Choice

Alice, a resident of Ohio, has obtained a valid judgment against Bill, a resident of Kentucky.In this case:

• A)Alice can attach Bill's automobile in Ohio to satisfy her court judgment.
• B)Alice must go to Kentucky to satisfy her judgment.
• C)Alice has no recourse against Bill because he has left the state.
• D)Ohio has no jurisdiction over Bill because he is a resident of Kentucky.

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Definitions:

Merchandise Inventory

Items that a company holds for the purpose of resale to customers in the ordinary course of business.

Gross Method

An accounting approach for recording purchases at the invoice price without deduction of any cash discounts offered.

Perpetual Inventory System

A strategy for managing inventory accounting that utilizes computerized point-of-sale systems and enterprise asset management software to immediately document sales or purchases.

Accounts Payable

Obligations a business has to its creditors, arising from the purchase of goods and services on credit.