The Total Disbursements During the Third Quarter (Item F in Thousands)are

question 54

Multiple Choice

The total disbursements during the third quarter (item f in thousands) are:

• A) $59.
• B) $78.
• C) $82.
• D) $84.

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Definitions:

Family Resemblance Test

A legal test applied to determine whether a new financial instrument should be classified as a security under U.S. law.

Reves v. Ernst & Young

A significant court case that established a test for determining whether a transaction qualifies as a security under the securities laws.

Promissory Notes

Written promises to pay a specified sum of money to a certain entity or person at a specified time or on demand.

Howey Test

A test derived from SEC v. W.J. Howey Co. to determine if a transaction qualifies as an "investment contract" and thus is considered a security subject to certain regulatory requirements.