If a merchant signs a written offer to buy or sell goods, this will be irrevocable only if accompanied by consideration
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
All of the following items are classified as accounting assumptions and conventions except for
A) going concern B) timeliness C) monetary unit D) reporting entity
A compensating balance arrangement usually results in which of the following for a company?
a. Increase its interest income. b. Increase the effective interest rate on corporate borrowing. c. Decrease the effective interest rate on corporate borrowing. d. Exhibit no change in the effective interest rate on corporate borrowing.
The values from an application that pass into parameters are called formal parameters.
Answer the following statement true (T) or false (F)
Consider the following statements about budget administration:I.The budgeting process is a very formal process in all organizations regardless of an organization's size. II.The budget manual is prepared to communicate budget procedures and deadlines to employees throughout an organization. III.Effective internal control procedures require that the budget director be an individual other than the controller. Which of the above statements is (are) true?
A. I only. B. II only. C. III only. D. I and II. E. I and III.