A Software Engineer Installs New Software in Dick's Computer and Returns

question 90

Multiple Choice

A software engineer installs new software in Dick's computer and returns the computer to Dick.Dick defaults in his payments for the new software.The software engineer loses his right of lien because:

• A)this kind of service is not covered under statutory liens.
• B)there is no surety or guarantor involved in the transaction.
• C)he has given the computer voluntarily without asking for any consideration.
• D)the computer rightfully belongs to Dick.

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Definitions:

Provincial Tax Agreement

An accord between provinces or between the federal and provincial governments regarding the collection and distribution of taxes.

Capital Expenditures

The funds used by a company to acquire or upgrade physical assets such as property, industrial buildings, or equipment.

Financial Planning

This entails evaluating the necessary capital and deciding on its distribution; it involves the creation of financial policies related to the obtaining, investing, and overseeing of a company's finances.

Cash Functions

The various roles and activities associated with cash management in a business, including collection, disbursement, and investment.