Any warranty that does not meet the standards set down in law for a full warranty must be labeled a limited warranty
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TRUE
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Which of the following is a factor that helps participative management work?
A. Top management is occasionally involved. B. Employees trust managers. C. PM is implemented without interference from TQM. D. Employees work in interdependent jobs. E. Employees need more training.
An original check and a substitute check are legally the same
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When a contract's writing is not clear, a court will not consider evidence outside the contract to interpret its terms
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Mayfield Corporation has provided the following financial data:Assets Current assets: Cash$223,000 Accounts receivable, net 236,000 Inventory 202,000 Prepaid expenses 10,000 Total current assets 671,000 Plant and equipment, net 665,000 Total assets$1,336,000 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$156,000 Accrued liabilities 52,000 Notes payable, short term 45,000 Total current liabilities 253,000 Bonds payable 100,000 Total liabilities 353,000 Stockholders' equity: Common stock, $4 par value 360,000 Additional paid-in capital 80,000 Retained earnings 543,000 Total stockholders' equity 983,000 Total liabilities & stockholders' equity$1,336,000 The company's current ratio is closest to:
A. 0.50 B. 0.26 C. 2.65 D. 0.53