Terry made an offer by letter to Swire. Unless otherwise specified by Terry, Swire's acceptance of this offer would become effective when his letter of acceptance was
a. written and signed by Swire.
b. properly mailed by Swire.
c. received by Terry.
d. acknowledged by Terry.
B
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The characteristics of home demand for a firm's products or services include all of the following except:
A) the composition of home demand. B) the size of the home demand. C) pattern of the growth of the home demand. D) means by which the home demand pushes or pulls foreign markets. E) the size of the competitors share of the home demand.
A low magnitude of operating leverage is best for most companies.
Answer the following statement true (T) or false (F)
The proper treatment of a deposit recorded by the business but not yet recorded by the bank is to report the deposit on the bank reconciliation as a(n):
a. addition to the book balance per checkbook. b. deduction to the book balance per checkbook. c. addition to the balance per bank statement. d. deduction to the balance per bank statement. e. none of the above.
On May 1 of this year, Ingrid sold her personal residence for $250,000. Commissions on the sale were $20,000. Ingrid also incurred $10,000 of costs for painting and repairs, which were all completed and paid for two weeks prior to the sale of her home. Ingrid's basis in her old home was $180,000. Ingrid's realized gain upon the sale of her first home is
A. $40,000. B. $0. C. $50,000. D. $70,000.