While Harry was intoxicated, he sold his car to Ben for substantially less than its fair market value. This contract is considered ________.
A. valid
B. voidable
C. void
D. unenforceable
Answer: B
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The responsibility center file is primarily used by the Financial Reporting System
Indicate whether the statement is true or false
____________refers to the words of a presentation in the context of organizational structure and the supporting information.
a. Ethos b. Pathos c. Logos d. none of the above
Which of the following is true concerning goodwill?
A. Goodwill is recorded when a company is purchased for more than the fair value of its identifiable net assets. B. Goodwill is recorded when the market value of a company exceeds the fair value of its identifiable net assets. C. Goodwill is recorded as a revenue in the income statement. D. Goodwill can never be recorded.
How do ethical principles apply to businesses?
A. They chiefly deal with the actions and behaviors required to operate companies in a socially responsible manner. B. They are generally more stringent than the ethical principles for society at large. C. They are not materially different from ethical principles in general. D. They chiefly deal with the rules each company's top management and board of directors make about "what is right" and "what is wrong." E. They are generally less stringent than the ethical principles for society at large.