George promises to repair Ford's boat dock in exchange for Efrem's promise to plant trees on George's property. This is
A. a delegation.
B. an assignment.
C. a third party beneficiary contract.
D. an alienation.
Answer: C
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A segment is attractive when there are actual or potential substitutes for the product
Indicate whether the statement is true or false
When input prices are increasing, companies that use the LIFO method of accounting for inventory will report
a. Lower cost of goods sold amounts in comparison to the FIFO method b. Higher sales amounts in comparison to the FIFO method c. Higher ending inventory amounts in comparison to the FIFO method d. Lower gross profit margins in comparison to the FIFO method
Owens Company uses the direct write-off method of accounting for uncollectible accounts receivable. On December 6, Year 1, Owens sold $6,300 of merchandise to the Valley Company. On August 8, Year 2, after numerous attempts to collect the account, Owens determined that the account of the Valley Company was uncollectible. a. Prepare the journal entry required to record the transactions on August 8.b. Assuming that the $6,300 is material, explain how the direct write-off method violates the expense recognition principle in this case.
What will be an ideal response?
Bottlenecks in waiting lines occur when?
a. Capacity exceeds demand b. Customers move quickly through the line c. The waiting line is empty d. Demand exceeds available capacity