The remedy of reformation:
a. applies only when money damages are inadequate.
b. can be used to correct mistakes in the original contract
c. is available if fraud is involved.
d. is a commonly used remedy.
b
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Texting and Twitter are examples of:
A) Wikis B) Micro-blogging C) RSS D) Podcasts
Integrated logistics management (ILM) refers to ______.
a. a computer system that integrates ordering, transportation, and warehousing of supplies of raw materials b. the practices used to ensure a continuous and uninterrupted flow of materials and products from suppliers to manufacturers to the final consumers c. mechanisms by which government regulations can be circumvented d. infinitely low-cost management techniques
An agent's authority must be express for the agent's act to bind a principal.
Answer the following statement true (T) or false (F)
Acute Business Corp., a small business firm, has $500,000 in assets and $300,000 in liabilities. What is the value of the owners' equity in the accounting books of Acute Business Corp.?
A. $200,000 B. $1,500,000 C. $175,000 D. $800,000