In some jurisdictions, minors who misrepresent their ages are not liable for the tort of deceit.?
Indicate whether the statement is true or false
True
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The FASB's conceptual framework does not include which of the following as financial reporting objectives?
a. Provide information useful for making suboptimal investment and credit decisions. b. Provide information to help current and potential investors and creditors assess the amount, timing, and uncertainty of future cash flows. c. Provide information about the economic resources of a firm's customers and the claims on those resources. d. Provide information about a firm's operating performance during a period. e. Provide information about how an enterprise obtains and uses cash.
A contract in which a party (the promisor) promises to render a certain performance not to the other party (the promisee) but to a third person (the beneficiary) is called a third-party beneficiary contract
a. True b. False Indicate whether the statement is true or false
[The following information applies to the questions displayed below.] The inventory records for Radford Co. reflected the following:Beginning inventory @ May 1100 units @ $4.00First purchase @ May 7300 units @ $4.40Second purchase @ May 17500 units @ $4.60Third purchase @ May 23100 units @ $4.80Sales @ May 31900 units @ $7.80If the company uses the weighted-average inventory cost flow method, what is the average cost per unit (rounded) for May?
A. $4.50 B. $4.45 C. $6.34 D. $5.12
Resources Recovery, Inc., uses dynamite in its remote mining operations. Sabrina stores household cleaners in his suburban garage. Most likely liable under the doctrine of strict liability for any injury caused by an abnormally dangerous activity is
A. neither Resources Recovery nor Sabrina. B. Resources Recovery and Sabrina. C. Resources Recovery only. D. Sabrina only.