Explain the purpose of a force majeure clause
Its purpose is to excuse performance in circumstances not controlled by the parties such as political unrest, Acts of God (earthquakes, tsunamis, hurricanes), war, etc.
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Which of the following is included in the cost of a plant asset?
A) amounts paid to make the asset ready for its intended use B) regular repair and maintenance costs C) replacement of damaged parts of the asset D) wages of workers who use the asset in normal operations
Cash received from the sale of equipment the company had used in its own operations would be considered an operating activity on a statement of cash flows.
Answer the following statement true (T) or false (F)
Unit-level activities are performed each time a batch is handled or processed.
Answer the following statement true (T) or false (F)
Which of the following is NOT an attribute of knowledge?
A) Knowledge is not subject to diminishing returns. B) Knowledge fragments as it grows. C) There is a need to refresh knowledge periodically for competitive advantage. D) The value of knowledge is easily quantified.