A contract that has elements of both goods and services is always classified as a contract for the sale of goods
Indicate whether the statement is true or false
False
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The major categories of business-to-business customers are ________
A) producers, retailers, and consumers B) resellers and governments C) organizations, producers, and manufacturers D) producers, resellers, and organizations E) consumers and retailers
Answer the following statements true (T) or false (F)
1) A depreciable asset's original cost is relevant when considering whether to replace the asset. 2) A sunk cost is a cost that was incurred in the past and cannot be changed regardless of what future action is taken. 3) Management decisions are based primarily on quantitative data because the qualitative factors are usually not relevant to the decision-making process. 4) Differential analysis is a method that looks at how operating income would differ under each budget scenario. 5) Differential analysis is a common approach to making long-term business decisions.
When a company sells a $100 service with a 20% trade discount, $80 of revenue is recognized.
Answer the following statement true (T) or false (F)
[Will Formalities] Mark decided he wanted a will. Mark contacted Anthony, a reputable attorney with an expertise in estate planning. In their initial meeting, Mark described the property he owned and how he wished it to be distributed upon his death. Mark also specified his funeral arrangements. Anthony drew up the will and provided Mark with a draft. Mark made some minor revisions, which Anthony incorporated. Mark and Anthony went over the will one last time, in the presence of Anthony's administrative assistants, Stacy and Jason. Mark was satisfied with the will and signed it. Two years later, Mark wanted to revise his will to add his new wife, Karen. The document named Karen as the primary beneficiary instead of Mark's brother, John. Mark handwrote these provisions on a thin cutting
board and labeled it "codicil," signed it, and attached it to his will. Mark unexpectedly dies and Karen and John dispute who should receive the majority of Mark's assets.Which of the following statements is true regarding the codicil Mark drafted? A. It meets all of the requirements for a valid codicil. B. It fails to meet the requirement of attestation by witnesses. C. It fails to meet the writing requirement. D. It has no effect because holographic codicils are not recognized. E. It fails to meet the signature requirement.