Ann Frazer has just purchased a new Maserati. Ann will be borrowing the money from her bank. Ann signed the contract at 8:00 PM at the dealership and her bank will not be open until 10:00 AM the following day. Ann:
A) has a contract regardless of whether her bank approves her loan
B) has made a conditional acceptance and has no contract.
C) will be excused from her contract if the bank does not approve her loan.
D) None of the above
C
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If a company failed to make the end-of-period adjustment to move the amount of management fees that were earned from the Unearned Management Fees account to the Management Fees Revenue account, this omission would cause:
A. An understatement of liabilities. B. An overstatement of net income. C. An overstatement of equity. D. An overstatement of assets. E. An overstatement of liabilities.
For the purposes of procedural due process, __________ includes certain entitlements conferred by government such as social security payments and food stamps
a. the right of free speech b. equal protection c. property d. liberty
Exchange rate risk is the risk that the cash flows from a foreign project will be worth less than those same cash flows denominated in the parent company's home currency.?
Answer the following statement true (T) or false (F)
Trek, Inc. has two service departments (Human Resources and Building Maintenance) and two production departments (Machining and Assembly). The company allocates Building Maintenance cost on the basis of square footage and believes that Building Maintenance provides more service than Human Resources. The square footage occupied by each department follows.Human Resources7,000Building Maintenance11,000Machining20,000Assembly28,000Assuming use of the direct method, over how many square feet would the Building Maintenance cost be allocated (i.e., spread)?
A. 48,000. B. 66,000. C. 55,000. D. 18,000. E. More information is needed to judge.