________ is a promise to refrain from doing an unlawful act, and therefore is a promise that will not support a contract
A) Preexisting duty
B) Illusory promise
C) Illegal consideration
D) Gift promise
C
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What specific internal control procedure would prevent an accounts receivable clerk from issuing a fictitious credit memo to a customer (who is also a relative) for goods that were "supposedly" returned from previous sales?
Your textbook identifies four characteristics of mass communication – one is that it primarily involves one way communication. Which of the following is NOT one of the other three?
a. It usually involves communication to a large, anonymous and heterogeneous audience b. It is usually transmitted through channels that work fast c. Senders are usually big organizations rather than individuals d. It is easily personalized to ensure all the audience perceive the message as important
Unless properly disclaimed, a warranty is implied that sold or leased goods are fit for the ordinary purpose for which they are sold or leased, as well as other assurances, known as the implied warranty of ________
A) volatility B) cause of action C) assertion D) merchantability
Consequential damages arise from circumstances outside a contract
Indicate whether the statement is true or false