In a bilateral contract, if one party is not bound, neither party is bound
a. True
b. False
Indicate whether the statement is true or false
True
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During the infection stage of buzz marketing, it is virtually impossible to generate word-of-mouth communications from actual customers
Indicate whether the statement is true or false
One of the key advantages of an EDI (Electronic Data Interchange) system is:
A) it allows easy access to all company data to vendors. B) its transaction formats are universal. C) it allows third-party transmission connections to company data. D) it saves both time and money by using different languages. E) vendors receive orders by voice mail.
In auditing accounts receivable, the negative form of confirmation request most likely would be used when:
A. recipients are likely to return positive confirmation requests without verifying the accuracy of the information. B. the combined assessed level of inherent and control risk relative to accounts receivable is low. C. the auditor performs a dual purpose test that assesses control risk and obtains substantive evidence. D. a small number of accounts receivable are involved but a relatively large number of errors are expected.
Standards that allow for waste and inefficiency are referred to as ______________________________
Fill in the blank(s) with correct word