Marie owes Nathan $800 and the parties agree that Marie will paint Nathan's house in satisfaction of the debt. The debt is not discharged until Marie performs the substituted agreement by painting Nathan's house
Indicate whether the statement is true or false
True
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Klein's Shoe Company uses a perpetual inventory system. The beginning balance in its inventory account is $1,500 and the ending balance is $1,000 . Cost of goods sold is $6,500 . What was the amount of inventory purchased during the year?
a. $ 500 b. $6,000 c. $7,000 d. $7,500
Many companies assign only the net invoice price for merchandise to inventory and cost of goods sold. All other costs, including transportation and other costs of bringing merchandise to the place of business, are charged to expense of the period in which they are incurred. Which accounting principle or concept is applied in this example?
a. Historical cost b. Matching c. Cost/Benefit d. Conservatism
Whereas a sales representative can bind its principal to a contract with third persons, a commercial agent may only solicit business.
Answer the following statement true (T) or false (F)
Which type of organizational development intervention focuses on improving employee satisfaction in relationship to pay, compensation, job security, responsibilities, performance, work–life balance, health, and career opportunities?
A. sociotechnical system design B. task–technology C. quality of worklife D. people-focused