The doctrine of promissory estoppel:
A. protects bargains, not reliance.
B. protects reliance, not bargains.
C. makes the contracts unenforceable.
D. does not make promises enforceable.
Answer: B
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If Grove City Corp continues to use the ship in its eleventh year, what is the correct accounting procedure?
a. Take the asset off the books and record a gain on the disposal b. Continue to depreciate it c. The company may not use it any longer d. No longer depreciate it but leave it on the records at its book value at the end of its useful life
If ending inventory on December 31 . 2014, is overstated by $40,000, what is the effect on net income for 2015?
a. Net income is overstated by $40,000. b. Net income is understated by $40,000. c. Net income is overstated by $80,000. d. The answer cannot be determined from the information given.
The ________ was created in 1967 with the adoption of the Stockholm Convention
A. Council of Europe B. International Monetary Fund C. World Trade Organization D. World Intellectual Property Organization
The results of a consolidation are the same as those of merger
Indicate whether the statement is true or false