Which of the following is a right to remedy that a seller can claim while the goods are in possession of the buyer?
A) right to dispose of goods
B) right to withhold delivery of goods
C) right to stop delivery of goods in transit
D) right to reclaim goods
D
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ASEAN is a(n)
A. trading bloc consisting of 10 countries in Asia. B. association of American and Southeast Asian nations. C. trading bloc consisting of 10 countries along the Atlantic Ocean. D. worldwide banking association. E. union of global nations that strives to bring world peace.
Other (nonoperating) items follow operating expenses or the subtotal for operating profit. Most firms reporting under U.S. GAAP separately report financing costs, such as
a. principal payments. b. interest revenue. c. interest expense. d. principal receipts. e. none of the above.
Comprehension questions are designed to stimulate entrepreneurs to think about their own understanding of the nature of the environment.
Answer the following statement true (T) or false (F)
Lawes Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During July, the company budgeted for 5,000 units, but its actual level of activity was 5,050 units. The company has provided the following data concerning the formulas to be used in its budgeting: Fixed element per monthVariable element per unitRevenue - $34.70 Direct labor$0 $6.00Direct materials 0 13.20Manufacturing overhead 31,000 1.90Selling and administrative expenses 20,300 0.10Total expenses$51,300 $21.20?The direct labor in the planning budget for July would be closest to:
A. $30,000 B. $30,880 C. $30,300 D. $30,574