If the parties to a contract for a sale of goods have not agreed on a price, a court will determine a reasonable price at the time for delivery
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following statements best describes one effect of recognizing expenses incurred by a business entity?
a. Stockholders' equity will decrease. b. Liabilities will decrease. c. Stockholders' equity will increase. d. Assets will increase.
During inflationary periods, an advantage of the LIFO inventory cost method is that it matches more recent costs against current revenues
Indicate whether the statement is true or false
SMART goals are significant, mentored, attainable, reasonable, and timely
Indicate whether the statement is true or false
In 2001, Nike admitted that it used child labor to produce its expensive sportswear products, while paying the children just pennies a day. This is an example of ______.
a. creating economic value in the short run b. being a conscientious corporate citizen c. being socially responsible d. following a sustainable manufacturing practice