On November 1, Paula and Roberta enter into a contract where both parties are obligated to perform on December 31 . On December 1, Paula tells Roberta, "I can, in no way, perform my duties in our contract." This statement is:
a. a material alteration.
b. anticipatory repudiation.
c. a nonmaterial breach since the statement is made before December 31.
d. an accord.
b
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Indicate whether the statement is true or false
Lucy tends to leave users only partially satisfied in her conflict management. Lucy is often referred to by her friends as the conflict manager who prefers a “lose–lose” outcome. Which conflict management style does Lucy tend to use?
A. avoiding B. compromising C. competitive D. collaborative
________ are best described as the ethical standards and norms that govern the behavior of individuals within a firm.
A. Organizational core values B. Customs duties C. Job descriptions D. Corrective controls
On the last day of the month, a company receives $24,000 of cash from customers. Of that amount, $3,000 was for services performed and $21,000 represented payments on account. The journal entry to record the $24,000 cash receipt would include a debit to:
A. Cash for $24,000, a debit to Service Revenue for $3,000, and a credit to Accounts Receivable for $21,000. B. Accounts Receivable for $21,000, a debit to Deferred Revenue for $3,000, and a credit to Cash for $24,000. C. Accounts Receivable for $21,000, a debit to Service Revenue for $3,000, and a credit for $24,000 to Cash. D. Cash for $24,000, a credit to Accounts Receivable for $21,000, and a credit to Service Revenue for $3,000.