The obligation of good faith underlies every contract under the Uniform Commercial Code.?
Indicate whether the statement is true or false
True
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Concerning the management of foreign exchange risk, some business firms do not hedge at all either because they cannot determine how much money will be coming in from abroad or because they have a deliberate strategy of allowing currencies to balance each other out around the world.
a. True b. False
Which of the following statements is False?
a. In a process costing system, manufacturing costs do not necessarily have to follow the physical flow of goods. b. The cost of the completed units in the predecessor departments are treated as input cost is sucessor departments. c. Transfered-in costs are treated the same as any other cost in the calculation of EUP and the cost of EUP. d. Costs incurred by predecessor departments are called transferred-in costs by the successor departments
The payer bank cannot charge the customer's account if it pays a check over the forged signature
Indicate whether the statement is true or false
Westwood Clothing Store reported the following selected items at June 30, 2017 (last year - 2016 - amounts are also given as needed)
Cash $ 80,000 Accounts Receivable, net: June 30, 2017 June 30, 2016 45,000 53,000 Accounts Payable 55,000 Cost of Goods Sold 288,000 Merchandise Inventory June 30, 2017 June 30, 2016 70,000 90,000 Net Credit Sales Revenue 480,000 Long-Term Assets 220,000 Long-Term Liabilities 140,000 Other Current Assets 150,000 Other Current Liabilities 130,000 Short-term Investments 40,000 Compute Westwood's acid-test ratio for 2017. Show your computations. (Round the answer to 2 decimal places.) What will be an ideal response