On August 1,2010,Ace Corporation Accepted a Note Receivable in Place

question 12

Multiple Choice

On August 1,2010,Ace Corporation accepted a note receivable in place of an outstanding accounts receivable in the amount of $123,965.The note is due in 90 days and has an interest rate of 8%.What would be the total amount collected at the maturity date?

• A)$123,965.00
• B)$2,479.30
• C)$126,444.30
• D)$121,485.70
• E)$133,882.20

Distinguish between express and implied warranties in sales contracts.

Recognize the automatic provision of warranties of title in sales transactions and implications of breaching these warranties.

Evaluate how sellers can disclaim or modify warranties and when such disclaimers or modifications are effective.

Identify the nature of puffery and its distinction from express warranties.

---

Definitions:

Leader's Basic Motivation

The fundamental driving force or intent behind a leader's actions and decisions, typically aimed at achieving specific goals or visions.

Emotional Intelligence

The capacity to be aware of, control, and express one's emotions, and to handle interpersonal relationships judiciously and empathetically.

Goleman

Goleman refers to Daniel Goleman, a psychologist known for his work on emotional intelligence and how it impacts leadership, organizational performance, and personal success.

Self-actualization

Fulfilling or realizing one's gifts and potential, perceived as an essential urge or need within all people.