Losses on noncancelable purchase contracts should be recognized:
a) at the date of inception.
b) at the time of payment.
c) when the purchase is recorded.
d) in the period a decline in market price occurs.
Ans: d) in the period a decline in market price occurs.
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A sample of 225 elements from a population with a standard deviation of 75 is selected. The sample mean is 180. The 98% confidence interval for ? is
A. 105 to 225. B. 175 to 185. C. 165.6 to 194.4. D. 164.575 to 195.425.
A major defense to the Age Discrimination in Employment Act is compliance with a bona fide seniority system
Indicate whether the statement is true or false
On April 15, Morgan sent a letter to Clark offering to sell her business to Clark for $200,000. The offer stated that it would expire on May 1. On April 30, Morgan sent another letter to Clark that stated that she was withdrawing the offer. Clark
received that letter on May 1. Also on April 30, Clark sent a letter to Morgan accepting the offer. Morgan received that letter of acceptance on May 1. Morgan refused to sell the business to Clark, claiming that no contract had been formed. Clark brought suit to enforce the contract against Morgan. Based on what you have learned in this chapter, decide the probable outcome of the case.