Which of the following is a seller's remedy?
A) right to recover damages for nondelivery
B) right to dispose of goods
C) right to replevy goods
D) right to obtain specific performance
B
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An unexpected change in an exogenous variable is known as
A. a shock. B. a fluctuation. C. an anachronism. D. a calibration.
Jane and Walt form Yellow Corporation. Jane transfers equipment worth $950,000 (basis of $200,000) and cash of $50,000 to Yellow Corporation for 50% of its stock. Walt transfers a building and land worth $1,050,000 (basis of $400,000) for 50% of Yellow's stock and $50,000 in cash.
A. Jane recognizes no gain; Walt recognizes gain of $50,000. B. Jane recognizes a gain of $50,000; Walt has no gain. C. Neither Jane nor Walt recognizes gain. D. Jane recognizes a gain of $750,000; Walt recognizes gain of $650,000. E. None of these.
Cost of goods sold is shown on the:
A) Balance Sheet as an asset. B) Income Statement before gross profit. C) Statement of Retained Earnings. D) Income Statement after gross profit.
The following information is available for Fenton Manufacturing Company at June 30: Cash in bank account$7255?Inventory of postage stamps$82?Money market fund balance$13,200?Petty cash balance$430?NSF checks from customers returned by bank$947?Postdated checks received from customers$591?Money orders$1057?A nine-month certificate of deposit maturing on December 31 of current year$8800??Based on this information, Fenton Manufacturing Company should report Cash and Cash Equivalents on June 30 of:
A. $17,542 B. $21,942 C. $20,885 D. $21,832 E. $21,914