Contract law in all countries require that there be mutual assent in the establishment of a contract between the parties
Indicate whether the statement is true or false
True
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The portion of proceeds from the sale of bonds with detachable stock warrants attributable to the warrants is accounted for as a(n)
A) additional paid-in capital account. B) common stock account. C) contra-liability account. D) adjunct-liability account.
Nick, a builder, contracts with the city of Chicago to build a new convention center. Jack, a hotel owner, stands to benefit once the convention center is built. Jack decides to sue Nick if Nick backs out of the contract. Which of the following statements is true of this scenario?
A. Jack can sue Nick because he is a donee beneficiary. B. Jack can sue Nick because Jack is a citizen of Chicago. C. Jack cannot sue Nick because he is a creditor beneficiary. D. Jack cannot sue Nick because he is an incidental beneficiary.
The heading of an adjusted trial balance might contain the line "For the Month Ended May 31, 20xx."
Indicate whether the statement is true or false
When excess capacity exists, managers should accept a special order if the special order price exceeds the ________.
Fill in the blank(s) with the appropriate word(s).