A liquidated damage provision will be enforced when:
A. a technical breach of contract has occurred without causing any actual loss.
B. the nature of the contract is such that damages are easy to determine.
C. the amount agreed on is not the injured party's exclusive remedy.
D. the amount specified is reasonable and actual damages are difficult to determine.
Answer: D
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All increases to stockholders' equity are from revenues
Indicate whether the statement is true or false
In budgeting direct labor hours for the coming year, it is important to:
A) multiply production in units by the direct labor hours per unit. B) divide production in units by the direct labor hours per unit. C) subtract production in units from the direct labor hours per unit. D) subtract direct labor hours per unit from production in units. E) multiply production in units by the labor wage rate.
Horizontal integration occurs at the same level of the value-added chain but simply involves a different, but complementary, value-added chain.
Answer the following statement true (T) or false (F)
Ron is the business agent for Kansas Sunshine, a rock band. He is also the agent for another popular Midwestern rock group, City Sand. Ron negotiates a deal with a Kansas City promoter to have City Sand play after a professional football game. The promoter was willing to pay $250,000 for both groups to play after the game; however, Ron talked her into booking just City Sand for $175,000 . Given
his contract with City Sand, Ron made more money under this arrangement. Has Ron violated his fiduciary duty to Kansas Sunshine? a. Yes. It appears that Ron put his own interests ahead of his principal's interests. b. Yes. Ron cannot, under any circumstances, act as an agent for both groups. c. Both a and b are correct. d. Neither a nor b is correct since it is very common for rock band agents to represent several groups at the same time.