Breach of one installment of an installment contract never gives rise to breach under the whole contract

a. True
b. False
Indicate whether the statement is true or false


False

Business

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An advantage of the retail inventory method over the gross profit is the retail method uses current-period estimates whereas the gross profit used past periods

Indicate whether the statement is true or false

Business

The Robinson-Patman Act says that to be legal, price differences must be based on

A. a need to meet competition and cost differences. B. freight costs. C. transportation differences. D. a reasonable profit margin as determined by the FTC. E. None of these answers is correct.

Business

List four well-known search methods used in the choice phase of problem solving

What will be an ideal response?

Business

Cranberry has received a special order for 100 units of its product at a special price of $2,100. The product normally sells for $2,800 and has the following manufacturing costs: Per unitDirect materials $840Direct labor  420Variable manufacturing overhead  560Fixed manufacturing overhead  700Unit cost $2,520Assume that Cranberry has sufficient capacity to fill the order without harming normal production and sales. If Cranberry accepts the order, what effect will the order have on the company's short-term profit? 

A. $28,000 increase B. $42,000 increase C. $42,000 decrease D. $70,000 decrease

Business