Under CARD,colleges and Universities Must

question 107

Multiple Choice

Under CARD,colleges and universities must:

• A)disclose financial relationships with the credit card companies.
• B)provide debt counseling for students.
• C)limit locations for student solicitation for credit cards.
• D)do all of these.

Gain insights into the consolidation process for parent and subsidiary companies.

Understand how to journalize investment transactions, including purchases, income recognition, and dividends.

Comprehend the treatment and reporting of trading securities on financial statements.

Comprehend the treatment and reporting of available-for-sale securities on financial statements.

---

Definitions:

UCC 2-301

A provision under the Uniform Commercial Code (UCC) that emphasizes the importance of good faith in the performance or enforcement of contracts covered by the UCC.

Obligor

The party in a contractual agreement who is bound to provide a benefit or payment to another.

Assignment

A contracting party’s transfer of his or her rights to a contract to a third party.

Personal in Nature

Refers to anything related to or affecting a person individually, rather than businesses or entities.