A merchant cannot revoke a firm offer to buy or sell goods if the merchant has:
A) promised to keep the offer open
B) declared in the presence of two or more reputable witnesses that the offer will be kept open.
C) received consideration to keep the offer open.
D) stated in a signed letter that the offer would not be revoked for a specified period of time.
D
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A company performs the aging of accounts receivable calculation and arrives at an estimate for uncollectible accounts of $800 . If Allowance for Uncollectible Accounts has a debit balance of $300 prior to the year-end adjustment, for how much should the adjustment be journalized?
a. $1,100 b. $800 c. $300 d. $5,500
Cato and Dolly are involved in a lawsuit. The best definition of a lawsuit is
A) a criminal prosecution, not a civil proceeding. B) a failure to perform a legal obligation. C) ?a judicial proceeding for the resolution of a dispute. D) an enactment of law by a legislative body.
Which of the following observations about member conscientiousness is true?
A. A team member who has low conscientiousness helps other team members to accomplish work responsibilities. B. A team member with low conscientiousness will have a positive effect on other team members. C. A team member with low conscientiousness tends to be dependable and works hard to achieve team goals. D. Correcting a team member who has high conscientiousness will result in interpersonal conflicts. E. A team with high conscientiousness will be more productive than a team with even one member with low conscientiousness.
Which of the following statements about the grapevine is FALSE?
A) It can be used to transmit information quickly. B) It builds a sense of togetherness. C) It is a useful way to transmit confidential information. D) It may extend beyond the organizational boundaries. E) It is often used as a way to get power.