Quiz 4 Answers

[Belinda Reyes]

Here's mine: 

 

Question 1

0.5 out of 0.5 points

	Which of the following is not an example of a secured transaction? Answer
	Selected Answer: A promissory note Correct Answer: A promissory note Answer Feedback: You are correct! A promissory note contains an express promise to pay, but is not secured to any specific asset. (Topic 8.3)

• Question 2

  0.5 out of 0.5 points

  	In which situation below is the debtor giving a chose in action as collateral security to the creditor? Answer
  	Selected Answer: A student pledges her Canada Savings Bonds to the bank for a loan to purchase a computer. Correct Answer: A student pledges her Canada Savings Bonds to the bank for a loan to purchase a computer. Answer Feedback: You are correct! Bonds are choses in action. A bond, like a cheque or a promissory note, is paper that represents an obligation to pay. (Topic 8.3)

• Question 3

  0.5 out of 0.5 points

  	How does the accounting profession determine whether a lease is an operating lease or a capital lease? Answer
  	Selected Answer: By determining whether title is likely to pass to the lessee at the end of the lease period Correct Answer: By determining whether title is likely to pass to the lessee at the end of the lease period Answer Feedback: You are correct! Whether or not title is likely to transfer at the end of the lease period is an important consideration in determining whether a lease is classified as operating or capital. (Topic 8.2)

• Question 4

  0.5 out of 0.5 points

  	Amadeus lends $1,000 to Ludvig so that Ludvig can buy a piano. Ludvig gives his Stradivarius violin to Amadeus to hold until Ludvig repays his loan. Which of the following best describes their agreement? Answer
  	Selected Answer: Amadeus is a secured creditor. Correct Answer: Amadeus is a secured creditor. Answer Feedback: You are correct! A secured creditor holds property that the debtor has pledged as a guarantee that it will perform its obligation. (Topic 8.3)

• Question 5

  0.5 out of 0.5 points

  	Nick has a consulting business with monthly billings of $4,000. He rents his office, hardware, and furniture, and owns few assets. Nick rents his apartment, has no car, and spends most of his income on leisure. If he came to you and asked to borrow $10,000 for the purpose of increasing his working capital, which of the following securities would you most likely request? Answer
  	Selected Answer: Assignment of accounts receivable Correct Answer: Assignment of accounts receivable Answer Feedback: You are correct! The creditor is given the right to collect money owed to the business in the event of a default. (Topic 8.3) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 32, page 354. ISBN: 0-13-088202-X

• Question 6

  0.5 out of 0.5 points

  	Which one of the following statements comparing a conditional sale and a chattel mortgage is true? Answer
  	Selected Answer: In a chattel mortgage and in a conditional sale, the debtor has possession of the collateral security, and the creditor has title. Correct Answer: In a chattel mortgage and in a conditional sale, the debtor has possession of the collateral security, and the creditor has title. Answer Feedback: You are correct! In a chattel mortgage and in a conditional sale, the debtor has possession of the collateral security, and the creditor has title. (Topic 8.3)

• Question 7

  0.5 out of 0.5 points

  	In which order will a trustee in bankruptcy settle claims of creditors? Answer
  	Selected Answer: The trustee will settle claims from secured creditors before the claims of preferred creditors. Correct Answer: The trustee will settle claims from secured creditors before the claims of preferred creditors. Answer Feedback: You are correct! Secured creditors have priority over preferred creditors with respect to the assets in which they have a security interest. (Topic 8.7)

• Question 8

  0.5 out of 0.5 points

  	Which one of the following is governed by federal statute and thus has rules common to all of Canada? Answer
  	Selected Answer: Bankruptcy Correct Answer: Bankruptcy Answer Feedback: You are correct! The Bankruptcy and Insolvency Act was adopted by the federal government in 1992. (Topic 8.6) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 2, page 343. ISBN: 0-13-088202-X

• Question 9

  0.5 out of 0.5 points

  	Which of the following determines the priority among security interests? Answer
  	Selected Answer: The order in which the security interests were perfected Correct Answer: The order in which the security interests were perfected Answer Feedback: You are correct! The order in which security interests were perfected determines their priority. Creation, attachment, and perfection are the three steps in obtaining a security interest. The first party to complete all three steps has priority. Perfection is the final step in the process of establishing a security interest’s priority and involves the secured party taking possession of the asset. (Topic 8.4)

• Question 10

  0.5 out of 0.5 points

  	Which of the following transactions creates a security interest? Answer
  	Selected Answer: A chattel mortgage Correct Answer: A chattel mortgage Answer Feedback: You are correct! A chattel mortgage creates a security interest because the borrower transfers an interest in property to the lender as security for a debt. (Topic 8.3)

• Question 11

  0.5 out of 0.5 points

  	Which one of the following is true about a conditional sale? Answer
  	Selected Answer: The seller transfers title in the goods once the last payment has been made. Correct Answer: The seller transfers title in the goods once the last payment has been made. Answer Feedback: You are correct! In a conditional sale, the seller retains title or property in the goods sold but possession of the property is transferred to the buyer who will pay the purchase price in a series of instalments. Title is transferred to the buyer once the last payment has been made. (Topic 8.3)

• Question 12

  0.5 out of 0.5 points

  	From which of the following borrowers would a chartered bank not be able to obtain security under section 427 of the Bank Act (1991)? Answer
  	Selected Answer: A builder Correct Answer: A builder Answer Feedback: You are correct! Fishermen, manufacturers, and farmers are all specified types of borrowers mentioned in section 427 of the Bank Act. Builders are not. (Topic 8.5)

[nazi tian]

Here we go~
Hope everyone can enjoy the Olympic games after finishing the quiz~

Nathalie

• Question 1

  0.5 out of 0.5 points

• 	On July 1, Maria finances the purchase of a new car by leasing it from Rent Co. On July 2, Maria sells the car to Pedro on the condition that he pay her $500 per month. On July 3, Pedro leases the car to Taxi Co. which gives him 50% of the revenue that the car generates. On July 4, Pedro files a financing statement under the Personal Property Security Act. On July 5, Maria files a financing statement under the PPSA. On July 6, Rent Co. files a financing statement under the PPSA. Who has priority? Answer
  	Selected Answer:     Pedro has priority because he was the first to complete all three steps: creation, attachment, and perfection. Correct Answer:     Pedro has priority because he was the first to complete all three steps: creation, attachment, and perfection. Answer Feedback: You are correct! The PPSA determines order of priority.  Generally speaking, the date of registration determines the rank and order of priorities. Furthermore, the registration system is put ahead of the needs of a particular party, even if the application of the Act seems unfair to a given secured party. Pedro was the first to complete all three steps: creation, attachment, and perfection. (Topic 8.4)

• Question 2

  0.5 out of 0.5 points

• From which of the following borrowers would a chartered bank not be able to obtain security under section 427 of the Bank Act (1991)? Answer

• Selected Answer:     A builder Correct Answer:     A builder Answer Feedback: You are correct! Fishermen, manufacturers, and farmers are all specified types of borrowers mentioned in section 427 of the Bank Act. Builders are not. (Topic 8.5)

• Question 3

  0.5 out of 0.5 points

• Which of the following determines the priority among security interests? Answer

• Selected Answer:     The order in which the security interests were perfected Correct Answer:     The order in which the security interests were perfected Answer Feedback: You are correct! The order in which security interests were perfected determines their priority. Creation, attachment, and perfection are the three steps in obtaining a security interest. The first party to complete all three steps has priority. Perfection is the final step in the process of establishing a security interest’s priority and involves the secured party taking possession of the asset. (Topic 8.4)

• Question 4

  0.5 out of 0.5 points

• 	Regarding secured creditors in bankruptcy proceedings, which of the following statements is true? Answer
  	Selected Answer:     They retain a prior claim to the value of the amount owed on the asset used as security. Correct Answer:     They retain a prior claim to the value of the amount owed on the asset used as security. Answer Feedback: You are correct! Secured creditors retain a prior claim on the amount owed on the asset used as a security. (Topic 8.7)

• Question 5

  0.5 out of 0.5 points

• In which order will a trustee in bankruptcy settle claims of creditors? Answer

• Selected Answer:     The trustee will settle claims from secured creditors before the claims of preferred creditors. Correct Answer:     The trustee will settle claims from secured creditors before the claims of preferred creditors. Answer Feedback: You are correct! Secured creditors have priority over preferred creditors with respect to the assets in which they have a security interest. (Topic 8.7)

• Question 6

  0.5 out of 0.5 points

• 	Which of the following statements correctly describes a finance lease? Answer
  	Selected Answer:     The lease is meant to protect the third party’s financial investment in the chattel. Correct Answer:     The lease is meant to protect the third party’s financial investment in the chattel. Answer Feedback: You are correct! In a finance lease, a third party advances the funds to the owner/vendor, takes title (ownership) to the chattel, and transfers possession to the lessee. If the lessee defaults on its rental payments, the third party will be able to step in and retake possession of the chattel. (Topic 8.2)

• Question 7

  0.5 out of 0.5 points

• Which of the following transactions creates a security interest? Answer

• Selected Answer:     A chattel mortgage Correct Answer:     A chattel mortgage Answer Feedback: You are correct! A chattel mortgage creates a security interest because the borrower transfers an interest in property to the lender as security for a debt. (Topic 8.3)

• Question 8

  0.5 out of 0.5 points

• 	Which of the following statements best describes collateral security? Answer
  	Selected Answer:     It is incidental to the main contract. Correct Answer:     It is incidental to the main contract. Answer Feedback: You are correct! Collateral security is property pledged by the promisor as a guarantee that it will perform its obligation. It is collateral or incidental to the main purpose of the contract between the parties. (Topic 8.3)

• Question 9

  0.5 out of 0.5 points

• 	Adnane purchases a car from Rodolfo. Adnane will take possession of the car immediately and will pay Rodolfo $500 per month for 10 months. At the end of that period of time, Adnane will get title to the car. What is this transaction called? Answer
  	Selected Answer:     Conditional sale Correct Answer:     Conditional sale Answer Feedback: You are correct! In a conditional sale, the seller retains title to the goods sold but possession of the property is transferred to the buyer, who will pay the purchase price in a series of instalments. Title is transferred to the buyer once the last payment has been made. (Topic 8.3)

• Question 10

  0.5 out of 0.5 points

• In which situation below is the debtor giving a chose in action as collateral security to the creditor? Answer

• Selected Answer:     A student pledges her Canada Savings Bonds to the bank for a loan to purchase a computer. Correct Answer:     A student pledges her Canada Savings Bonds to the bank for a loan to purchase a computer. Answer Feedback: You are correct! Bonds are choses in action. A bond, like a cheque or a promissory note, is paper that represents an obligation to pay. (Topic 8.3)

• Question 11

  0 out of 0.5 points

  	Which of the following statements is true under the Bankruptcy and Insolvency Act? Answer
  	Selected Answer:     A consumer proposal is initiated by the creditors of the debtor. Correct Answer:     A receiving order is initiated by the creditors of the debtor. Answer Feedback: Incorrect. A consumer proposal is initiated by the debtor, not the creditors. The correct answer is, a receiving order is initiated by the creditors of the debtor. (Topic 8.6)

• Question 12

  0.5 out of 0.5 points

• 	In a rental agreement, what are the names for (i) the party who transfers possession of property for a period of time and (ii) the party who provides periodic money payments for the possession of the rented property? Answer
  	Selected Answer:     (i) Lessor and (ii) lessee Correct Answer:     (i) Lessor and (ii) lessee Answer Feedback: You are correct! The lessor transfers possession of the property for a period of time, and the lessee provides consideration in the form of a periodic money payment. (Topic 8.2)

[Darryl, Donna, Brianna & Mackenzie Eckhardt]

Hi All….

 

·         Question 1

0.5 out of 0.5 points

	Royce Engines wants to purchase a wheeled electric generator from Merlin. Merlin sells the generator to London Financing for $250,000. London Financing in turn leases the generator to Royce Engines for $10,000 per month for a two-year period. What kind of lease is this? Answer
	Selected Answer: The lease is a finance lease because London Financing has advanced funds to Merlin, taken title of the chattel, and transferred possession to Royce Engines. Correct Answer: The lease is a finance lease because London Financing has advanced funds to Merlin, taken title of the chattel, and transferred possession to Royce Engines. Answer Feedback: You are correct! A finance lease is a type of purchase lease where a third party advances the funds to the owner/vendor, takes title to the chattel, and transfers possession to the lessee. (Topic 8.2)

·         Question 2

0.5 out of 0.5 points

	On July 1, Maria finances the purchase of a new car by leasing it from Rent Co. On July 2, Maria sells the car to Pedro on the condition that he pay her $500 per month. On July 3, Pedro leases the car to Taxi Co. which gives him 50% of the revenue that the car generates. On July 4, Pedro files a financing statement under the Personal Property Security Act. On July 5, Maria files a financing statement under the PPSA. On July 6, Rent Co. files a financing statement under the PPSA. Who has priority? Answer
	Selected Answer:

Pedro has priority because he was the first to complete all three steps: creation, attachment, and perfection.

Correct Answer:

Pedro has priority because he was the first to complete all three steps: creation, attachment, and perfection.

Answer Feedback: You are correct! The PPSA determines order of priority. Generally speaking, the date of registration determines the rank and order of priorities. Furthermore, the registration system is put ahead of the needs of a particular party, even if the application of the Act seems unfair to a given secured party. Pedro was the first to complete all three steps: creation, attachment, and perfection. (Topic 8.4)

·         Question 3

0.5 out of 0.5 points

	Under the Bankruptcy and Insolvency Act, which one of the following is true? Answer
	Selected Answer: Under the Bankruptcy and Insolvency Act, a consumer proposal is initiated by the debtor. Correct Answer: Under the Bankruptcy and Insolvency Act, a consumer proposal is initiated by the debtor. Answer Feedback: You are correct! A consumer proposal is initiated by the debtor. (Topic 8.6)

·         Question 4

0.5 out of 0.5 points

	Which one of the following is true about a pledge? Answer
	Selected Answer: The creditor transfers possession in the goods once the last payment has been made. Correct Answer: The creditor transfers possession in the goods once the last payment has been made. Answer Feedback: You are correct! In a pledge or pawn, a creditor (pawnbroker) takes possession of the goods as security, but the debtor retains title. Possession will be transferred back to the debtor when the loan has been repaid. (Topic 8.3)

·         Question 5

0.5 out of 0.5 points

	Amy Carr looked at a 1996 Ford being sold by a private party who told her that the car was free and clear of all encumbrances. Carr had the Ford inspected by her Automobile Association, which reported it to be in good condition. Carr bought the Ford for $8,000. Two months later, the car was seized by a chattel mortgagee bank that had properly registered its claim in the registry within the time allowed by the Act governing chattel mortgages. Which one of the following is true? Answer
	Selected Answer: The chattel mortgagee would get the Ford because it properly registered its chattel mortgage on time. Correct Answer: The chattel mortgagee would get the Ford because it properly registered its chattel mortgage on time. Answer Feedback: You are correct! Registration perfects a secured transaction and gives priority to the secured creditor. (Topic 8.4) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 6, page 344. ISBN: 0-13-088202-X

·         Question 6

0.5 out of 0.5 points

	Which one of the following statements comparing a conditional sale and a chattel mortgage is true? Answer
	Selected Answer:

In a chattel mortgage and in a conditional sale, the debtor has possession of the collateral security, and the creditor has title.

Correct Answer:

In a chattel mortgage and in a conditional sale, the debtor has possession of the collateral security, and the creditor has title.

Answer Feedback: You are correct! In a chattel mortgage and in a conditional sale, the debtor has possession of the collateral security, and the creditor has title. (Topic 8.3)

·         Question 7

0.5 out of 0.5 points

	Which of the following is not an example of a secured transaction? Answer
	Selected Answer: A promissory note Correct Answer: A promissory note Answer Feedback: You are correct! A promissory note contains an express promise to pay, but is not secured to any specific asset. (Topic 8.3)

·         Question 8

0.5 out of 0.5 points

	Angelova asks you to finance her upcoming theatre production; she needs $10,000. She does not have a car or a house, but many companies have promised to pay for the theatre tickets that she has sent them. What type of security interest would you take? Answer
	Selected Answer: Assignment of accounts receivable Correct Answer: Assignment of accounts receivable Answer Feedback: You are correct! The creditor is given the right to collect money owed to the business in the event of a default. (Topic 8.3)

·         Question 9

0.5 out of 0.5 points

	Regarding secured creditors in bankruptcy proceedings, which of the following statements is true? Answer
	Selected Answer:

They retain a prior claim to the value of the amount owed on the asset used as security.

Correct Answer:

They retain a prior claim to the value of the amount owed on the asset used as security.

Answer Feedback: You are correct! Secured creditors retain a prior claim on the amount owed on the asset used as a security. (Topic 8.7)

·         Question 10

0.5 out of 0.5 points

	In a secured transaction, the creditor’s right to payment of a debt may be secured by his taking title to certain assets. In which one of the following types of transactions do those assets consist entirely of intangible property? Answer
	Selected Answer: Assignment of accounts receivable Correct Answer: Assignment of accounts receivable Answer Feedback: You are correct! Accounts receivable are choses in action. (Topic 8.3) Source: Ruth Yates, Business Law in Canada: Test Item File, 6th edition (Prentice Hall, 2002), Question 44, page 359. ISBN: 0-13-088202-X

·         Question 11

0.5 out of 0.5 points

	Rail Co. purchases a box car from Steel Co. for $100,000 under a finance lease, which it registers under the Personal Property Security Act. Rail Co. makes two payments of $10,000 and then defaults. What remedies are available to Steel Co.? Answer
	Selected Answer: Steel Co. can repossess the secured goods and retain them. Correct Answer: Steel Co. can repossess the secured goods and retain them. Answer Feedback: You are correct! The creditor can repossess the secured goods and retain them. (Topic 8.4)

·         Question 12

0.5 out of 0.5 points

	Which one of the following are negotiable instruments? Answer
	Selected Answer: Promissory notes, drafts, and cheques Correct Answer: Promissory notes, drafts, and cheques Answer Feedback: You are correct! A negotiable instrument is a written document, a chose in action such as a bill of exchange (or a bank draft), a promissory note, or a cheque, which is evidence of a promise, express or implied, to pay a specific sum of money to the order of a specific person or to a bearer. (Topic 8.1)

Tuesday, July 31, 2012 5:33:28 PM EDT

 

 

From: lw1-s...@googlegroups.com [mailto:lw1-s...@googlegroups.com] On Behalf Of nazi tian
Sent: Tuesday, July 31, 2012 5:50 PM
To: lw1-s...@googlegroups.com
Subject: Re: {LW1 Summer} Quiz 4 Answers

 

Here we go~
Hope everyone can enjoy the Olympic games after finishing the quiz~

Nathalie

·         Question 1

0.5 out of 0.5 points

On July 1, Maria finances the purchase of a new car by leasing it from Rent Co. On July 2, Maria sells the car to Pedro on the condition that he pay her $500 per month. On July 3, Pedro leases the car to Taxi Co. which gives him 50% of the revenue that the car generates. On July 4, Pedro files a financing statement under the Personal Property Security Act. On July 5, Maria files a financing statement under the PPSA. On July 6, Rent Co. files a financing statement under the PPSA. Who has priority? Answer

Selected Answer:

Pedro has priority because he was the first to complete all three steps: creation, attachment, and perfection.

Correct Answer:

Pedro has priority because he was the first to complete all three steps: creation, attachment, and perfection.

Answer Feedback: You are correct! The PPSA determines order of priority.  Generally speaking, the date of registration determines the rank and order of priorities. Furthermore, the registration system is put ahead of the needs of a particular party, even if the application of the Act seems unfair to a given secured party. Pedro was the first to complete all three steps: creation, attachment, and perfection. (Topic 8.4)

·         Question 2

0.5 out of 0.5 points

From which of the following borrowers would a chartered bank not be able to obtain security under section 427 of the Bank Act (1991)? Answer

Selected Answer:     A builder Correct Answer:     A builder

Answer Feedback: You are correct! Fishermen, manufacturers, and farmers are all specified types of borrowers mentioned in section 427 of the Bank Act. Builders are not. (Topic 8.5)

·         Question 3

0.5 out of 0.5 points

Which of the following determines the priority among security interests? Answer

Selected Answer:

The order in which the security interests were perfected

Correct Answer:

The order in which the security interests were perfected

Answer Feedback: You are correct! The order in which security interests were perfected determines their priority. Creation, attachment, and perfection are the three steps in obtaining a security interest. The first party to complete all three steps has priority. Perfection is the final step in the process of establishing a security interest’s priority and involves the secured party taking possession of the asset. (Topic 8.4)

·         Question 4

0.5 out of 0.5 points

Regarding secured creditors in bankruptcy proceedings, which of the following statements is true? Answer

Selected Answer:

They retain a prior claim to the value of the amount owed on the asset used as security.

Correct Answer:

They retain a prior claim to the value of the amount owed on the asset used as security.

Answer Feedback: You are correct! Secured creditors retain a prior claim on the amount owed on the asset used as a security. (Topic 8.7)

·         Question 5

0.5 out of 0.5 points

In which order will a trustee in bankruptcy settle claims of creditors? Answer

Selected Answer:

The trustee will settle claims from secured creditors before the claims of preferred creditors.

Correct Answer:

The trustee will settle claims from secured creditors before the claims of preferred creditors.

Answer Feedback: You are correct! Secured creditors have priority over preferred creditors with respect to the assets in which they have a security interest. (Topic 8.7)

·         Question 6

0.5 out of 0.5 points

Which of the following statements correctly describes a finance lease? Answer

Selected Answer:

The lease is meant to protect the third party’s financial investment in the chattel.

Correct Answer:

The lease is meant to protect the third party’s financial investment in the chattel.

Answer Feedback: You are correct! In a finance lease, a third party advances the funds to the owner/vendor, takes title (ownership) to the chattel, and transfers possession to the lessee. If the lessee defaults on its rental payments, the third party will be able to step in and retake possession of the chattel. (Topic 8.2)

·         Question 7

0.5 out of 0.5 points

Which of the following transactions creates a security interest? Answer

Selected Answer:     A chattel mortgage Correct Answer:     A chattel mortgage

Answer Feedback: You are correct! A chattel mortgage creates a security interest because the borrower transfers an interest in property to the lender as security for a debt. (Topic 8.3)

·         Question 8

0.5 out of 0.5 points

Which of the following statements best describes collateral security? Answer

Selected Answer:

It is incidental to the main contract.

Correct Answer:

It is incidental to the main contract.

Answer Feedback: You are correct! Collateral security is property pledged by the promisor as a guarantee that it will perform its obligation. It is collateral or incidental to the main purpose of the contract between the parties. (Topic 8.3)

·         Question 9

0.5 out of 0.5 points

Adnane purchases a car from Rodolfo. Adnane will take possession of the car immediately and will pay Rodolfo $500 per month for 10 months. At the end of that period of time, Adnane will get title to the car. What is this transaction called? Answer

Selected Answer:     Conditional sale Correct Answer:     Conditional sale

Answer Feedback: You are correct! In a conditional sale, the seller retains title to the goods sold but possession of the property is transferred to the buyer, who will pay the purchase price in a series of instalments. Title is transferred to the buyer once the last payment has been made. (Topic 8.3)

·         Question 10

0.5 out of 0.5 points

In which situation below is the debtor giving a chose in action as collateral security to the creditor? Answer

Selected Answer:

A student pledges her Canada Savings Bonds to the bank for a loan to purchase a computer.

Correct Answer:

A student pledges her Canada Savings Bonds to the bank for a loan to purchase a computer.

Answer Feedback: You are correct! Bonds are choses in action. A bond, like a cheque or a promissory note, is paper that represents an obligation to pay. (Topic 8.3)

·         Question 11

0 out of 0.5 points

Which of the following statements is true under the Bankruptcy and Insolvency Act? Answer

Selected Answer:

A consumer proposal is initiated by the creditors of the debtor.

Correct Answer:

A receiving order is initiated by the creditors of the debtor.

Answer Feedback: Incorrect. A consumer proposal is initiated by the debtor, not the creditors. The correct answer is, a receiving order is initiated by the creditors of the debtor. (Topic 8.6)

·         Question 12

0.5 out of 0.5 points

In a rental agreement, what are the names for (i) the party who transfers possession of property for a period of time and (ii) the party who provides periodic money payments for the possession of the rented property? Answer

Selected Answer:

(i) Lessor and (ii) lessee

Correct Answer:

(i) Lessor and (ii) lessee

Answer Feedback: You are correct! The lessor transfers possession of the property for a period of time, and the lessee provides consideration in the form of a periodic money payment. (Topic 8.2)

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[gursewak sidhu]

Thanks it help me a lot 

Sent from my iPhone

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