When is the course of performance considered in a written contract?
A) when oral modification is required for a written contract
B) when a sale or lease contract is not evidenced by writing
C) when the express terms of a written contract are not clear
D) when there is a prior oral or written agreement statement contradicting the written agreement
C
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Which of the following best describes when revenues are generally recognized?
a. At the completion of production b. At the point of sale when legal title is transferred c. When cash is collected d. During production
What factors influence who becomes a team’s leader? When is team leadership not so necessary?
What will be an ideal response?
Which of the following is correct about warranties under the Uniform Computer Information
Transactions Act (UCITA)? A) General disclaimers must be conspicuous. B) Licensors are not required to make express warranties concerning the quality of their software or information. C) The UCITA permits a licensor to disclaim all implied warranties by language that in common understanding calls the licensee's attention to the disclaimer and makes plain there are no implied warranties. D) A and B only E) A, B, and C
On January 1, a company issued a $500,000, 10%, 8-year bond payable, and received proceeds of $473,845. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The amount of interest expense to be recorded on June 30 is $25,000.
Answer the following statement true (T) or false (F)