An accrued expense is an expense
A) incurred but neither paid nor recorded.
B) incurred, paid, and recorded.
C) paid and recorded but not incurred.
D) whose amount is subject to estimation.
A
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Double D Ranch and Esau enter into a contract on August 1 for the sale of 200 cattle. Esau cancels the contract ten days later. Double D is unable to sell the cattle to another buyer. Double D can
A. force Esau to accept the cattle and pay for them. B. recover the contract price from Esau but must hold the cattle for him. C. recover the contract price from Esau and keep the cattle. D. recover the contract price from Esau but must destroy the cattle.
A business entity's limited personal liability obviates the need to obtain insurance for significant business liability risks.
Answer the following statement true (T) or false (F)
Even if a manager's estimate of a demand curve is not exact, there is usually a profitable range around the price that would maximize profit.
Answer the following statement true (T) or false (F)
A manufacturing process produces items whose weights are normally distributed. It is known that 22.57% of all the items produced weigh between 100 grams up to the mean and 49.18% weigh from the mean up to 190 grams. Determine the mean and standard deviation