Which of the following situations would not constitute a ratification of a contract by a minor?
a. Prior to reaching majority, a minor expressly agrees to be bound by the terms of the contract.
b. After reaching majority, the minor fails to disaffirm the contract within a reasonable time.
c. After reaching majority, the minor expresses in writing an intention to be bound by the terms of the contract.
d. After reaching majority, the minor expresses orally an intention to be bound by the terms of the contract.
A
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Cultures with ______ emphasize the process for achieving a goal whereas
a. masculine orientation; feminine orientation b. polychronic orientation; monochronic orientation c. long-term orientation; short-term orientation d. collectivism; individualistic
A manufacturing company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of Finished Goods Inventory can be taken from the ________.
A) production budget and cost of goods sold budget B) financial budget C) cash budget D) selling and administrative expenses budget
The retail life cycle stage characterized by excess capacity and overstoring is _____
a. introduction b. accelerated development c. maturity d. decline
What accounting concept requires a company to accrue interest expense on a note payable?
What will be an ideal response?