Which of the following is the most frequently used method of communicating benefits to employees?
A. video presentation
B. employee handbook
C. employee discussion
D. group seminar
E. intranet
Answer: B
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How does the statement of retained earnings relate to the income statement and the balance sheet?
Which of the following suggested bases of recognizing revenue is not permitted by authoritative literature?
a. During production for long-term construction contracts if reliable estimates of the extent of progress and of the cost to complete can be made and if reasonable assurance of collectibility exists. b. At the completion of production if immediate marketability at a quoted price exists for a product whose units are interchangeable. c. On an accretion basis where product marketability at known prices exists and it is desirable to recognize changes in assets, such as growing timber. d. On a cash basis if no reasonable basis exist for estimating collectibility.
Stelwire LLC, a vintage car dealer, advertises the sale of a 1964 Ford Thunderbolt. Ralph responds to the advertisement with an offer of $80,000 for the car. Stelwire signs a written assurance to keep that offer open to Ralph for a fortnight
Five days before the fortnight is up, Stelwire sells the car to another buyer. At the end of the fortnight period, Ralph tenders $80,000 for the car, but the car has already been sold. Ralph then buys the same model car from another dealer for $90,000 and sues Stelwire for breach of contract. The court rules that Stelwire is liable to Ralph for breach of contract and orders Stelwire to pay Ralph the difference of $10,000 he paid extra to the second dealer for the car. What was the nature of the contract between Ralph and Stelwire? A) counteroffer B) open terms contract C) option contract D) lease contract
When an effective graphic is used in a report, there is no need for additional interpretation and analysis of the data
Indicate whether the statement is true or false