Zero, Inc agreed to build Millie a storage building for $8,000 . After beginning the project, Zero realized that it could not complete the job and make a profit. Zero demanded $9,500 to complete the building. Millie agreed to pay the $9,500 . When the project was complete, Millie tendered $8,000 to Zero for the job. If Zero sues Millie for the remaining $1,500,
a. Zero will win because there was consideration for the additional $1,500.
b. Zero will win because Millie had a pre-existing duty to pay any additional amounts.
c. Zero will lose because there was no legal consideration to support the additional $1,500.
d. Zero will lose because the UCC does not require consideration to modify an existing contract.
c
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Slater Company uses the cash basis of accounting. Slater Company collected $950,000 from its customers during 2015. Customers owed Slater $150,000 of accounts receivable at the beginning of 2015, and $190,000 of accounts receivable at the end of 2015. What is Slater's sales revenue for 2015 under the accrual basis of accounting?
A) $810,000 B) $950,000 C) $990,000 D) $940,000
Direct liability occurs when the:
A. agent's criminal behavior occurs outside the scope of employment. B. principal has liability insurance and the agent commits a tort. C. agent is not acting at the direction of the principal. D. principal is negligent in the hiring and/or the supervision of the agent.
Conditions favoring the choice of using a sample over a census include all of the following EXCEPT:
A) small budget. B) time available is short. C) population size is large. D) variance in the characteristic of interest is low. E) cost of sampling error is high.
A characteristic of a high-involvement organization is that ________
A. much of the work is done independently by experts in the top management. B. employee participation in decision making is limited. C. the organization has a flat, decentralized structure built around a customer, good, or service. D. people who try to expand their skills beyond their job profile are discouraged. E. the employees at lower levels of management are not held accountable for delivering a good or service.