Real property is
A) land, buildings and fixtures
B) any hard asset
C) anything but intangible property
D) any asset that can be weighed or measured
E) all tangible and intangible property
A
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The data below is for Music Corporation for 2016. Accounts receivable—January 1, 2016 $236,000 Credit sales during 2016 820,000 Collections from credit customers during 2016 590,000 Customer accounts written off as uncollectible during 2016 8,000 Allowance for doubtful accounts—January 1, 2016 8,700 Estimated uncollectible accounts based on an aging analysis 9,600 Refer to the data for Music
Corporation. If the aging approach is used to estimate bad debts, what is the balance in the Allowance for Doubtful Accounts after the bad debt expense adjustment? a. $8,000 b. $8,100 c. $8,900 d. $9,600
Electronic surveys are not very popular in ________
A) United States B) Eastern Europe C) Western Europe D) Canada
Which type of primary research requires no direct involvement with human subjects?
a. Observational studies b. Experimental research c. Normative surveys d. Longitudinal research
Lulene makes the best lemon meringue pies in Mississippi. So Ellen, who owns Ellen's Old Fashion Cafe, contracts with Lulene to buy 50 pies per week at the price of $5.00 per pie. Although Lulene took a class in business law, she forgot to get her agreement with Ellen in writing. Lulene and Ellen agreed during a chat. Lulene said: "I will supply you with lemon meringue pies for however long you
want them at $5.00 per pie." Ellen said: "That's great, I'll take them." Both women were pleased. Soon Lulene had a problem. Between a hurricane in Florida and brush fires in California, the price of lemons increased by 200%. Now, instead of the $5.00 per pie price she intended to charge Ellen, she feels she must charge $7.00 per pie to make a little profit. Lulene calls Ellen with the bad news and Ellen has a fit. She tells Lulene that's too bad, but the deal is off. Lulene says, "That's what you think!" and goes to see Amanda, her attorney. Instead of meeting to discuss the deal, Lulene had sent Ellen a letter offering to sell her lemon pies for $5.00 per pie for as long as Ellen likes. Lulene says she must receive Ellen's answer by May 10 . On May 8 Ellen signs a letter accepting the offer and mails it. On May 9 Lulene calls to withdraw her offer. Ellen says it's too late, she has accepted. Who wins? a. Ellen wins, because it was effective when sent b. Ellen wins, based on the faulty communication rule c. Lulene wins, because she revoked before receipt d. Lulene wins, based on the precedent set in the Hixson case e. Lulene wins based on the UCC