Mary tells her accountant, "I must have this year's audit completed by March 1, and time is of the essence." The accountant agrees to complete the audit by March 1 . Under general contract law, if the audit is not completed by March 1, Mary does not have to pay the accountant for the audit
a. True
b. False
Indicate whether the statement is true or false
True
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The primary responsibility for the preparation and integrity of the financial statements in an annual report belongs to the company's independent accountants (CPAs)
a. True b. False Indicate whether the statement is true or false
The difference between the maximum amount buyers are willing to pay for a given quantity of a good and the amount actually paid is called
a. deadweight loss. b. deadweight gain. c. producer surplus. d. consumer surplus.
Putting quotation marks around the search phrase you enter in a search engine is most likely to________
A) yield fewer results, which will be more relevant to your search phrase B) yield fewer results, which will be less relevant to your search phrase C) yield more results, which will be more relevant to your search phrase D) yield more results, which will be less relevant to your search phrase E) have no effect whatsoever on the number or relevancy of results
Which of the following is true about effective capacity?
a. It is limited for firms that manufacture multiple products because they have to retool their assembly lines for each product. b. Firms that produce a highly standardized product have a low-effective capacity, as they produce only one product. c. It is heavily influenced by the lead time for the product. d. Effective capacity is usually higher for customized services than for standardized products.