A contract that is entered into because of undue influence is ________.
A. void
B. fully enforceable
C. voidable by either party
D. voidable by the innocent party
Answer: D
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What function of the law is being served when passing laws that protect the U.S. government from the risk of being forcefully overthrown?
A) maintaining the status quo B) shaping moral standards C) facilitating orderly change D) promoting social justice
If a firm has a production orientation, what types of questions does management ask after assessing its resources?
What will be an ideal response?
When we speak of government regulation of business we ordinarily mean state government regulation, not federal government intervention
Indicate whether the statement is true or false
The accountant of Randy's Flooring has closed all of the temporary income statement accounts. The accountant is now ready to close the Income Summary account. The owner of the company is R. Car. Using the Income Summary T-account below, determine the correct closing entry the accountant needs to make in order to close the account.Income Summary12/31 beg inv.2,00012/31 ending inv.5,00012/31 exp.42,00012/31 rev.85,000
A.
| Income Summary | 46,000 | |||
| R. Car, Capital | 46,000 | |||
B.
| R. Car, Capital | 90,000 | |||
| Income Summary | 90,000 | |||
C.
| Income Summary | 43,000 | |||
| R. Car, Capital | 43,000 | |||
D.
| R. Car, Capital | 46,000 | |||
| Income Summary | 46,000 | |||