Dan,a Computer Programmer,holds a Garage Sale to Sell a Lawnmower,some

question 29

Multiple Choice

Dan,a computer programmer,holds a garage sale to sell a lawnmower,some clothes,some CDs and some old clothes.Will,a lawyer,sells Thelma his collection of seashells.Philip,a CEO of a successful company,sells George his pet parakeet.Judy,an expert horse trainer,sells Bob a horse.Which person would be considered a merchant under the UCC?

• A)Dan
• B)Will
• C)Judy
• D)Philip

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Definitions:

Capital Expenditures Budget

A plan that details a company's projected spending on long-term assets, such as property, plant, and equipment, which are expected to provide benefits over multiple years.

Merchandise Purchases Budget

A financial plan detailing the amount of goods a company needs to purchase during a period to meet expected sales demands and maintain inventory levels.

Master Budget

An aggregated budget that represents a company's overall plan of action for a specified period, integrating individual budgets for income, spending, and capital expenditures.

Master Budget

A comprehensive financial planning document that consolidates all of an organization's individual budgets.