An agreement to modify a contract for the sale of goods that is not supported by consideration: ______
A) is only binding if supported by consideration.
B) is binding as long as it's voluntary.
C) is only binding if the original contract is invalid.
D) is binding only if enforced by a court.
B
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Orlov Corporation purchased 22,000 shares of Matsey Corporation common stock for $40 per share on January 1, 2009 . Matsey reported net income of $120,000 for 2009 and paid dividends of $45,000 during 2009 . As of December 31, 2009, the market value of Matsey Corporation common stock was $39 per share. Assuming the shares owned by Orlov represent 10 percent of the total outstanding stock of
Matsey, the year end adjustment entry in Orlov Corporation's books is: a. Cash 22,000 Dividend Income 22,000 b. Cash 22,000 Long-Term Investments 22,000 c. Unrealized Loss on Long-term Investments 22,000 Allowance to Adjust Long-Term Investments to Market 22,000 d. Loss on Long-Term Investments 22,000 Allowance to Adjust Long-Term Investments to Market 22,000
Charging higher prices on an everyday basis, coupled with frequent sales and other price promotions to increase store traffic, create a low-price image, or attract customers who will buy other goods at full prices is referred to as ________ pricing
A) category killer B) discount C) high-low D) every day low E) predatory
Temporary account balances are reduced to zero by closing entries
Indicate whether the statement is true or false
Mark has long supported a particular brand of footwear and has always bought that brand. Recently, the footwear manufacturer was embroiled in a controversy for using child labor at its manufacturing plants
Mark doubts the news reports and continues to purchase the same brand of footwear. It is most accurate to say that Mark displays ________. A) selective distortion B) cognitive dissonance C) selective retention D) selective attention E) consumer ethnocentrism