A customer saw a bicycle bearing a price tag of $29 at Wal-Smart. The customer handed the cashier a $50 bill and said, "I accept. We have a deal." The cashier then noticed the price tag and told the customer an error had been made and that the price of the bicycle was $229 . In this case:
a. the customer had already accepted the offer.
b. the customer is the offeror.
c. the price tag was a firm offer.
d. no contract was formed because the cashier rejected the customer's offer.
d
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________ has overtaken the United States as the world's largest luxury market; it's forecast that one-third of all high-end goods will be sold there in the coming years
A) China B) India C) South Africa D) Brazil E) South Korea
The audit documentation when performing an engagement quality review should include such information such as how much the firm paid for the review
a. True b. False Indicate whether the statement is true or false
All of the following are applications of utilitarianism EXCEPT:
A. build on your prior experience B. set personal interests aside C. carefully examine the outcomes of your decisions D. there may be unanticipated outcomes
Wilson Corporation granted an incentive stock option to Reva on January 1, two years ago. The option price was $300, and the FMV of the Wilson stock was also $300 on the grant date. The option allowed Reva to purchase 150 shares of Wilson stock. Reva exercised the option on August 1, this year, when the stock's FMV was $400. Unless otherwise stated, assume Reva is a qualifying employee. The
results of the above transactions to Reva will be A) no income to Reva on the grant date or exercise date but there is an alternative minimum tax adjustment item to Reva of $15,000. B) no income tax or alternative minimum tax effect for Reva. C) ordinary income to Reva on the exercise date of $15,000. D) capital gain to Reva on the exercise date of $15,000.