A Sale Exists After the Buyer Takes

question 41

Multiple Choice

A sale exists after the buyer takes:

• A) the title to the goods.
• B) the risk of loss on the goods.
• C) an insurable interest in the goods.
• D) a special property interest in the goods.

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Definitions:

Book Value

The worth of an asset as indicated by its balance sheet account balance, which considers the asset's original cost less any depreciation, amortization, or impairment charges.

Dividends in Arrears

Unpaid dividends on preferred stock that accumulate until paid by the corporation, often before any dividends can be paid on common stock.

Par Value

A nominal or face value assigned to a share of stock, bonds, or other securities as stated in the corporate charter or on the stock certificate.

Dividend Rate

The amount of dividend that a company pays out to its shareholders annually, usually expressed as a percentage of the stock's current market price or as a fixed amount per share.