Merchandise is sold on account for $100, and the sale is subject to a sales tax of $6 . The terms of the sale are 2/10, n/45 . The amount that should be debited to the accounts receivable account at the time of the sale would be
a. $0; b. $6; c. $98; d. $100; e. $106
E
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Generally, reasonable liquidated damage clauses will be enforced:
a. when actual damages are easily determined. b. when actual damages are difficult to determine. c. almost always. d. only in real estate sales contracts.
Adam Smith supported international trade because: A) countries could focus on what they did well and then trade with other countries for goods and services they did not do so well
B) he felt tariffs were the best way to raise money for government purposes. C) companies could operate without regulation. D) None of the above
If the dispute involves interpreting an existing agreement rather than creating a new one, such arbitration to resolve is known as rights arbitration.?
Indicate whether the statement is true or false
The disclosure document that franchisors must give to prospective franchise buyers is not required to include which of the following information?
a. an audited financial statement of the franchisor b. the background and experience of the key executives c. the names, addresses, and phone numbers of other franchisees d. list of responsibilities of the franchisor and the franchisee once the deal is made e. all of the other choices must be provided