A party to a contract may delegate his rights arising from the contract to another person.
a. true
b. false
b. false
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If cash decreases by $10,000 during the year, liabilities decrease by $5,000, and shareholders' equity increases by $5,000, what is the total change in noncash assets for the year?
a. a decrease of $5,000 b. an increase of $10,000 c. a decrease of $10,000 d. an increase of $5,000 e. an increase of $15,000
Maureen agrees to sell her interest in the farm to Joe. Maureen and her husband, Bill, hold the property as tenants by the entireties. What consequence?
a. There is no sale. b. The sale severs the tenancy and creates a joint tenancy. c. The sale transfers one-half interest in the land. d. The sale results in a partition of the land.
If a stock pays a dividend of $10 and the investors need 8% return on their investment, then the investors should pay _____ for the stock.?
A. ?$150 B. ?$200 C. ?$350 D. ?$125 E. ?$75
Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$126 Units in beginning inventory 0Units produced 1,900Units sold 1,800Units in ending inventory 100 Variable costs per unit: Direct materials$49Direct labor$28Variable manufacturing overhead$5Variable selling and administrative expense$11Fixed costs: Fixed manufacturing overhead$32,300Fixed selling and administrative expense$23,400 What is the net operating income for the month under variable costing?
A. $(4,500) B. $5,400 C. $1,700 D. $3,700