If some part of a shipment of goods does not conform to the contract, the
a. seller generally must be given an opportunity to cure the defect.
b. buyer can immediately reject the entire shipment and automatically cancel.
c. buyer cannot accept the part that is conforming.
d. buyer must accept the shipment at a reduced price.
A
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Net sales are computed as sales minus sales returns and allowances and purchase discounts
Indicate whether the statement is true or false
A financial instrument that obtains its value from some other financial item is known as a(n)
a. clone. b. mutual fund. c. derivative. d. stock exchange. e. underlying.
Extortion of private persons is commonly referred to as ________.
A. kick-backs B. obstruction of justice C. collusion D. blackmail
A sampling distribution ______.
a. describes the randomness of the variation in a sample’s values b. shows how much of the entire population varies from the sample c. is similar to a histogram d. shows from which parts of the population a sample is chosen