On May 1, Garage Prefabricators, Inc, agrees to sell four portable garages to Hiway Truck Service Center. Five days later, Hiway refuses delivery and cancels the contract. Garage Prefabricators is entitled to
A)?force Hiway to accept the garage
B)?recover any damages from Hiway but not resell the garage.
C)?resell the garage and recover any damages from Hiway.
D)?resell the garage but not recover any damages from Hiway.
C
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Flowcharts are used to
A) summarize large amounts of statistical data. B) show the relative sizes of the parts of a whole. C) show how something looks or operates. D) illustrate processes and procedures. E) indicate trends over time.
Christopher, who is based in the U.S. has been offered a chance to work in Thailand. He finds that in this society people are expected to look after others in their family (or organization) and protect them when they are in trouble. This society tends to support ________.
A. collectivism B. parochialism C. individualism D. monotheism
Visioning content principles include all of the following EXCEPT ________.
A. strategic initiatives B. a central purpose C. an allocation of budget D. core values E. broad goals
As part of a company's normal course of business, errors, omissions, and changes occur in the financial statements. Certain items may be reported on the income statement, some may directly adjust the balance in retained earnings, while others do not affect the current period's income statement or retained earnings. Required:
a. Consider a change in estimate, such as the useful life of an asset moving from five to eight years. How is this handled on the income statement and/or through the retained earnings account? b. Consider an error/omission, such as merchandise inventory being left out of the final yearly count. How is this handled on the income statement and/or through the retained earnings account?