Describe a force majeure clause in a contract, and give some examples.
What will be an ideal response?
The parties to a contract may agree that certain events will excuse nonperformance of the contract. These clauses are called force majeure clauses. A force majeure clause usually excuses nonperformance caused by natural disasters such as floods, tornadoes, and earthquakes. Modern clauses also often excuse performance due to labor strikes, shortages of raw materials, and the like.
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Discuss the philosophy of win-win not yet negotiating in a negotiation session.
What will be an ideal response?
The distinction between operating and nonoperating income relates to:
A. Reliability of measurements. B. Current versus noncurrent. C. Revenues versus expenses. D. Primary versus peripheral activities of the reporting entity.
Connie is analyzing the financial statements of MegaMart and Bullseye Company. She wants to invest in one of the companies and is trying to decide which company has the better past performance. Connie is examining ________.
A) managerial accounting information B) financial accounting information C) regulatory accounting information D) organizational accounting information
The Internet is a more appropriate direct marketing medium for life cycle marketing than direct-response advertising is
Indicate whether the statement is true or false