Students canceling their housing contract after occupying their room shall pay damages in of $5.00 per day for the remainder or unexpired portion of the term of the academic agreement, not to exceed $400.". This clause in the contract for student housing is a(n):
a. Liquidated Damages Clause
b. Exculpatory Clause
c. Novation
d. Option Contract
a
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The variable costing method is required for external financial reporting.
Answer the following statement true (T) or false (F)
Generally accepted accounting principles
a. are changing continually. b. are sound in theory but rarely used in practice. c. have eliminated all the weaknesses in accounting practice. d. are accounting rules formulated by the Internal Revenue Service.
Toward the end of the fiscal year, the owner of a small company came back from lunch concerned because he had learned that a business targeted to the same customers as his was planning on spending $150,000 on promotion
As soon as he arrived at the office, he called his financial manager and said, "I want to budget $150,000 for next year's promotion." Which method of promotional budgeting did the owner want to use? A) the objective-task method B) the percentage-of-sales method C) the competitive-parity method D) the bottom-up method E) the pull-push method
A negotiable instrument cannot be made payable to multiple payees
Indicate whether the statement is true or false