Fact Pattern 16-1BBayside Construction Company enters into a contract with Clio to remodel Dewey's Home Store, using products from Eagle Building Supplies. Fresh Food Café is next to Dewey's Home Store.Refer to Fact Pattern 16-1B. Dewey is
A. a delegatee.
B. an assignee.
C. an incidental beneficiary.
D. an intended beneficiary.
Answer: D
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A form of fraud in which the payments made by one customer are systematically applied to the account of another is called:
a. lapping b. malfeasance c. pre-posting d. knitting
Those who favor localized marketing see national advertising as wasteful because ________
A) it gets too up close and personal with consumers B) it drives up manufacturing and marketing costs by reducing economies of scale C) it magnifies logistical problems D) it fails to address local needs E) it sends conflicting marketing messages
Managers are typically faced with all of the following primary choices and estimates when allocating acquisition costs of tangible assets and intangible assets to the periods benefited except:
a. choosing an allocation method b. estimating useful life c. estimating salvage value d. establishing a reserve for obsolescence
(Use the Healthy Lawn information to answer this question.) The aggregate effect of these entries during 2013 is as follows:
a. Sales Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 Accounts Receivable, Gross . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 b. Sales Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 Accounts Receivable, Net . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . 2,000,000 c. Accounts Receivable, Net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 Sales Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 d. Accounts Receivable, Gross . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 Sales Revenue . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . 2,000,000 e. Notes Receivable, Gross . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000 Sales Revenue . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . 2,000,000