In a breach of contract the injured seller may resell goods not accepted by the buyer. If the resale is commercially reasonable, the seller may recover the difference between the resale price and contract price, but cannot recover incidental damages
a. True
b. False
Indicate whether the statement is true or false
False
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Sports Village advertises a sale of snowboards. It says that the Snow Knife board is regularly $800 and is on sale for $400. It turns out that the Snow Knife board sells at most stores in the city for
$500. As a result which of the following statements is FALSE? Sports Village A) is guilty of misleading advertising B) has done nothing wrong as it had sold this board for $800 for the first week of the winter C) could face an AMP of up to $10 million D) could be ordered to publish a corrective notice E) could face penalties under either the criminal matters section or the civil reviewable matters section of the Competition Act
It is the defendant's responsibility to seek a writ of execution if she fails to pay a judgment
a. True b. False Indicate whether the statement is true or false
Jester Corporation's most recent income statement appears below:Income StatementSales (all on account)$610,000 Cost of goods sold 340,000 Gross margin 270,000 Selling and administrative expense 160,000 Net operating income 110,000 Interest expense 20,000 Net income before taxes 90,000 Income taxes (30%) 27,000 Net income$63,000 The beginning balance of total assets was $360,000 and the ending balance was $320,000. The return on total assets is closest to:
A. 26.5% B. 32.4% C. 18.5% D. 22.6%
An enterprise fund of Grist was billed $10,000 for using the services of an internal service fund's data processing center. What account should Grist's enterprise fund debit to record this billing?
A. General Operating Expenses B. Expenditures C. Transfer Out to Internal Service Fund D. Due to Internal Service Fund