Which of the following is an example of a finite population in a queuing system?
A. Taxpayers calling for assistance from the IRS
B. People waiting to place their order at a fast-food restaurant
C. Patients seeking help in a hospital emergency room
D. The departmental faculty in line at the copier
E. People waiting in line at an ATM
Answer: D
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On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. The journal entry or entries that Ryan will make on September 12 is (are):
A.
| Sales | 5,800 | |
| Accounts receivable | 5,800 |
B.
| Accounts receivable | 5,684 | |
| Sales | 5,684 | |
| Cost of goods sold | 4,000 | |
| Merchandise Inventory | 4,000 |
C.
| Accounts receivable | 5,684 | |
| Sales | 5,684 |
D.
| Accounts receivable | 5,800 | |
| Sales | 5,800 | |
| Cost of Goods Sold | 4,000 | |
| Merchandise inventory | 4,000 |
E.
| Accounts receivable | 5,800 | |
| Sales | 5,800 |
Jonas enters into an oral contract with Chelsea to lease his house to her for $100,000. Chelsea pays him $100,000 and moves in
A month later, Jonas learns that his state requires contracts for the lease of goods with payments of $1,000 or more to be in writing. Which of the following options does either party have now? A) Jonas can evict Chelsea as the contract does not comply with the Statute of Frauds and is hence void. B) The contract cannot be rescinded by either party as it has already been executed. C) Chelsea can rescind the contract on the grounds of noncompliance with the Statute of Frauds. D) Jonas can rescind the contract on the grounds of noncompliance with the Statute of Frauds.
Which is a constraint on international IR systems?
a) Ideology b) Market c) Technology d) All of the above
For a complaint proposed to the five commissioners by an FTC staff member to be officially issued:
a. there must be unanimous agreement b. at least 2 commissioners must vote for it c. at least 3 commissioners must vote for it d. at least 1 commissioner must vote for it e. 4 out of 5 commissioners must vote for it