Where a contract calls for action that violates a statute, in a breach of contract case the court will:
A) Impose the appropriate criminal penalty.
B) Order the parties to change the terms of the contract such that it becomes legal.
C) Order payment so that the parties to the illegal contract share any losses equally.
D) Ignore the contract and leave the parties where they are.
E) Order both parties to return any consideration received.
D
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Since interest and dividends received are most closely associated with investment activity and are often called investment income, the FASB classifies the cash received from these items as investing activities
Indicate whether the statement is true or false
The matching rule relates to credit losses by stating that Uncollectible Accounts Expense should be recorded
A) in the period of the loss. B) for an exact amount. C) in the same period as allowed for tax purposes. D) in the period of the sale.
If you send a message to your supervisor and she forwards it to the vice president, the vice president would be considered ________
A) your primary audience B) your secondary audience C) your formal audience D) your informal audience
The following data relates to Black-Out Company's estimated amounts for next year.Estimated:Department 1Department 2Manufacturing overhead costs$300,000 $400,000 Direct labor hours 60,000DLH 80,000DLHMachine hours 1,000MH 2,000MH What is the company's plantwide overhead rate if machine hours are the allocation base? (Round your answer to two decimal places.)
A. $5.00 per MH B. $233.33 per MH C. $4.90 per MH D. $150.00 per MH E. $100.00 per MH