In Davis v. Baugh Industrial Contractors, the traditional common law rule prevented a party who accepted a completed construction project from later suing the contractor for flaws in construction that caused injury to others. In reviewing such a case, the Washington state high court held that:
a. state statute prevented the court from changing the rule
b. common law rules cannot be changed, so it could not amend the rule
c. common law rules cannot be changed without U.S. Supreme Court approval d. the rule had a good rationale behind it, so it would be maintained
e. the rule was not sensible in modern times and would be changed
e
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Related to in-process R&D, an acquiring company may not
A) capitalize in-process R&D. B) treat in-process R&D as an intangible asset. C) increase the amount of goodwill for in-process R&D. D) establish a patent for in-process R&D.
If a bank’s payment over a stop-payment order causes subsequent checks written on the drawer’s account to be returned for insufficient funds, the bank will be liable for the drawer’s resulting costs.
Answer the following statement true (T) or false (F)
Digerolamo Enterprises makes a variety of products that it sells to other businesses. The company's activity-based costing system has four activity cost pools for assigning costs to products and customers. Details concerning that ABC system are listed below:Activity Cost PoolActivity MeasureActivity RateSupporting assemblyDirect labor-hours (DLHs)$3.55per DLHProcessing batchesNumber of batches$189.35per batchProcessing ordersNumber of orders$59.35per orderServing customersNumber of customers$1,159.00per customerThe cost of serving customers, $1,159.00 per customer, is the cost of serving a customer for one year.Carlacci Corporation buys only one of the company's products which Digerolamo Enterprises sells for $18.85 per unit. Last year Carlacci Corporation ordered a total of 1,500 units
of this product in 4 orders. To fill the orders, 9 batches were required. The direct materials cost is $8.15 per unit and the direct labor cost is $2.60 per unit. Each unit requires 0.15 DLHs.According to the ABC system, the total cost of the activity "Processing batches" for this customer this past year was closest to: A. $189.35 B. $1,704.15 C. $59.35 D. $1,763.50
In comparing credit cards to other forms of credit, which of the following is false?
A) Credit cards are generally the most expensive form of credit. B) You should pay the most expensive debt off first. C) Credit cards can be viewed as a source of funds. D) A home equity loan is a way of combining credit card and other debt.