Long's Department Store contracted to buy 1,000 drop-waist velour dresses in heather gray from Durham. Subsequently, Durham called and asked to ship mink-colored dresses instead of heather gray. Long agreed, in writing, to the change. Which statement is correct?
A)The modification is not enforceable since there was no consideration for the change.
B)The modification is not enforceable since the parties are merchants.
C)The modification is enforceable.
D)Whether the modification is enforceable depends on the gap-filler rule.
C
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When a partner sells his interest to another party, the journal entry simply credits the withdrawing partner's capital account and debits the new partner's capital.
A) Admitting a new partner does not change the core structure of the old partnership. B) The purchase of an existing partner's interest is a transaction between the new partner and the partnership firm. C) Any time the partner mix changes, the old partnership ceases to exist and a new partnership begins. D) A person can become a partner by purchasing an existing partner's interest, even without the approval of the other partners.
On a statement of cash flows prepared using the direct method, cash received from selling merchandise is considered a ________.
A) cash inflow from investing activities B) cash inflow from operating activities C) cash outflow from financing activities D) cash outflow from investing activities
Define customer service.
What will be an ideal response?
Change frightens a professional, and he or she avoids it whenever possible
Indicate whether the statement is true or false