Sonny had a contract to paint the rides at an amusement park and needed a paint that would protect against extensive wear, potentially harsh weather, and rust. Sonny asked for paint samples from several companies, and selected one supplier based on the quality of the sample. When he received his order, he found that the quality did not match that of the sample. What recourse does Sonny have?
If the supplier will not provide paint that matches the sample in quality, Sonny can sue the supplier for breach of an express warranty. The UCC establishes that the seller may create an express warranty in three ways: with an affirmation of fact or a promise, with a description of the goods, or with a sample or model. A seller who uses a sample is generally warranting that the merchandise sold will be just as good. Sonny must demonstrate that the sample provided was the basis of the bargain.
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In February, one of the processing departments at Brandstetter Corporation had beginning work in process inventory of $24,000 and ending work in process inventory of $18,000. During the month, the cost of units transferred out from the department was $249,000. The company uses the FIFO method in its process costing system. In the department's cost reconciliation report for February, the costs added to production in the department would be:
A. $255,000 B. $225,000 C. $231,000 D. $243,000
Which of the following is/are not true regarding the operations of a charitable organization?
a. might prepare financial statements that compare inflows (for example, contributions) with outflows b. there would be no calculation of net income c. purpose is to provide services to its constituents d. purpose is to seek profits. e. all of the above
On the ________, cash dividends become a liability of a corporation
A) declaration date B) date of record C) last day of the fiscal year D) payment date
A typical characteristic of a knowledge worker’s career path is
A. the chance to take on substantial management responsibilities. B. more frequent training in management tasks. C. less specialized training. D. compensation equivalent to that available to management. E. freedom from specialized technical work.