RFP (used in the process of selecting suppliers) stands for ______.
A. request for purchase
B. request for proposal
C. request for production
D. request for price
B. request for proposal
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When a note receivable matures, the amount must be paid directly to the payee
a. True b. False Indicate whether the statement is true or false
Brawn Co has a $20,000, two-year note payable to Gassaway City Bank that matures June 30, 2014 . Brawn's management intends to refinance the note for an additional three years and is negotiating a financing agreement with Gassaway City. In order to exclude this note from current liabilities on its December 31 . 2013 . balance sheet, Brawn Co must
a. pay off the note and complete the refinancing before the 2013 financial statements are issued. b. complete the refinancing before the note's maturity date. c. complete the refinancing before the balance sheet date. d. demonstrate an ability to refinance the obligation before the 2013 financial statements are issued.
If a sale made in a foreign subsidiary is in the local currency, and there is a time lag on payment,
A. there is no transaction risk because the currency is local. B. economic risk may be present. C. interest may be due. D. there is likely to be exchange risk.
Valerie promises Teresa that she will pay Teresa $75 if Teresa will clean Valerie's house by noon on Saturday. If Teresa cleans the house by noon on Saturday and Valerie pays the $75, then this is an implied, bilateral, executory contract
a. True b. False Indicate whether the statement is true or false