Which of the following is an example of an estimable probable contingency?
A) FICA Taxes Payable
B) Income Taxes Payable
C) Warranty Payable
D) Accounts Payable
C) Warranty Payable
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________ is an event that occurs when one person consciously decides to induce another person to rely and act on a misrepresentation
A) Fraudulent misrepresentation B) Unilateral mistake C) Bilateral mistake D) Erroneous misrepresentation
The Uniform Commercial Code would be applied in which of the following situations?
A) A contract for landscape services B) A contract for sale of patent rights C) A contract for the purchase of farmland D) A contract to buy living room furniture
Under the UCC, a(n) ____ is a practice or method of dealing, regularly observed and followed in a place or vocation or trade
A) course of dealing B) usage of trade C) course of performance D) integrated document
Which of the following is a fundamental goal of shareholders?
A. to have the business survive B. to keep their jobs C. to have an immediate increase in stock price D. to have the business provide jobs