An assignee's rights are subject to any defenses that the obligor has against the assignor
Indicate whether the statement is true or false
True
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Bad Debts expense is debited and Accounts Receivable is credited at the end of the period to recognize bad debts under the allowance method
a. True b. False Indicate whether the statement is true or false
Ending inventory is equal to the cost of items on hand plus
a. merchandise in transit sold to customers FOB shipping point. b. merchandise in transit sold to customers FOB destination. c. the cost of all inventory purchased during the period. d. merchandise purchased in transit with terms FOB destination.
Every year the high school hosts a faculty-staff basketball game to raise money for the American Heart Association. Along with a cash donation, the local Subway restaurant donates sandwiches that the high school can sell at the game to earn extra money for the charity. By doing so, Subway is engaged in
A. charitable advertising. B. corporate volunteerism. C. stakeholder responsibility. D. philanthropic marketing. E. corporate philanthropy.
Ortiz agreed to sell Patton her house for $50,000, but they did not sign a contract of sale. Later, Ortiz changed her mind and refused to go through with the sale. Is Ortiz legally obligated to sell her house to Patton for $50,000?