Under the UCC, merchantable means that goods must be of a quality comparable to:
a. that generally acceptable in that line or trade b. the median standard of industry
c. the highest recent quality of the trade d. defect-free goods in the industry
e. none of the other choices
a
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On its December 31, 2017, balance sheet, Calgary Industries reports equipment of $370,000 and accumulated depreciation of $74,000. During 2018, the company plans to purchase additional equipment costing $80,000 and expects depreciation expense of $30,000. Additionally, it plans to dispose of equipment that originally cost $42,000 and had accumulated depreciation of $5,600. The balances for equipment and accumulated depreciation, respectively, on the December 31, 2018 budgeted balance sheet are:
A. $408,000; $98,400. B. $328,000; $74,000. C. $450,000; $104,000. D. $408,000; $104,000. E. $450,000; $98,400.
Using the transportation simplex method, the optimal solution to the transportation problem has been found when
a. there is a shipment in every cell. b. more than one stepping-stone path is available. c. there is a tie for the outgoing cell. d. the net evaluation index for each unoccupied cell is ? 0.
Bass has defined communication effectiveness as the degree to which someone tells others something and ensures that they understand what was said.
Answer the following statement true (T) or false (F)
Which of the following distributions would never result in gain recognition to the recipient partner?
a. A distribution of cash that follows a contribution of appreciated property to the partnership. b. A distribution of a slightly appreciated marketable security. c. A distribution of property to a partner who, three years ago, contributed other property with a built-in gain. d. A distribution to a second partner of property contributed by the first partner two years ago. e. A proportionate distribution of inventory property.