When firms issue common stock for assets other than cash, the firm records the shares exchanged for noncash assets at the fair value of the shares given or, if the firm cannot make a reasonable estimate, at the fair value of the assets received
Indicate whether the statement is true or false
T
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What is the ending balance in the Work-in-Process Inventory account?
Darius Manufacturing, Inc. provided the following information for the year:
The inventory account balances as of January 1 are given below.
A) $15,960
B) $1000
C) $50,000
D) $45,000
According to the foreseeability test, a breaching party is liable only for those damages that he foresaw or ought to have foreseen
Indicate whether the statement is true or false
Amy agrees to buy goods from Van for a contract price of $2,000 payable on delivery. Amy repudiates the contract and refuses to pay anything. Van resells the goods in compliance with the Code for $1,700, incurring $200 in sales commissions but saving $250 in shipping costs. Van would recover from Amy:
a. the contract price of $2,000. b. $500. c. $350. d. $250.
Who among the following people is most likely to become a necessity entrepreneur?
A. A person who has recently graduated from college and has no work experience B. A person who has recently been promoted to a managerial position C. A person whoexperiences discrimination in the standard workplace D. A person who avoids challenges and financial risks