The difference between a BOT contract and a BOOT contract is that under the BOOT contract:
A) The customer must observe all phases of the project process before the product is handed over.
B) The project organization is obligated to complete the project on time.
C) The project organization must take initial ownership of the product.
D) The customer must organize the project's resources for the project organization.
C
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McClure Corp purchased raw materials with a cost of $86,000. Credit terms of 3/10, n/60 apply. If McClure uses the net price method, the purchase should be recorded as
A) $77,400 B) $86,000 C) $83,420 D) $88,580
Identify when an indirect approach to providing information would be most effective, providing an example that highlights each step in the process
What will be an ideal response?
The accounting concept that requires every business to be accounted for separately from other business entities, including its owner or owners is known as the:
A. Revenue recognition principle. B. Going-concern assumption. C. Time-period assumption. D. Business entity assumption. E. Measurement (Cost) principle.
What happens when people of diverse backgrounds are allowed in but expected to conform to the existing culture?
a. The diversity advantage does not get realized. b. The new employees will only stay with the new company for short time. c. Conflicts stays at a reduced level. d. Contrarian and creative ideas will flourish.