Early sales law was governed by state law. This created a significant legal challenge for managers because:
a. Article 2 of the UCC was unclear
b. it forced managers to write sales agreements with many terms left open c. different rules developed across the states
d. it required a new sales agreement each time a new order was placed e. none of the other choices
c
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Dividing the amount of U.S. currency in circulation by the number of people in the United States shows that, on an average, each person holds almost $3,000 in cash. The most important explanation for this remarkably large sum is that
A. the underground economy in the United States is huge, with many dollar transactions. B. huge amounts of cash have been lost over time. C. most of the cash is circulating in foreign countries. D. banks keep huge amounts of cash in their ATMs and bank vaults.
Which of the following qualifies as an unintended unethical behavior?
a. punching a stranger because they insulted you b. failing to report an unwanted sexual advance for fear of being fired c. a store manager using a waste disposal service that secretly pollutes d. going along with a boss’s unethical request because one values loyalty highly
Cash received from the sale of long-term investments is classified in which section of the statement of cash flows?
A) Operating B) Investing C) Financing D) Noncash
Which is an unconditional order to pay?
A. "I will pay $5,000 for the painting." B. "I will pay $2,500 for the truck if it is still running." C. "I will pay $400 if I have the money by Friday." D. All of these are correct.