When a Licensing Requirement Is Designed Merely to Raise Revenue,a

question 24

True/False

When a licensing requirement is designed merely to raise revenue,a contract made by an unlicensed person is generally enforceable.

---

Definitions:

Issuance

The process of making securities available for sale to the public or the act of issuing new shares of stock by a company.

Cash Flows

The total amount of money being transferred into and out of a business, especially as it affects liquidity.

Investing Activities

Financial transactions involving the purchase or sale of long-term assets and investments, a component of cash flow statements.

Operating Activities

Operating activities are the day-to-day functions of a business related to producing and selling its goods or services, which are reflected in its earnings.