In which of the following situations does the parol evidence rule not apply?
a. Where a typographical error occurs in the document and obviously does not represent the agreement of the parties.
b. Where one of the parties to the contract lacks contractual capacity.
c. The parol evidence rule applies in both of the above situations.
d. The parol evidence rule does not apply in either (a) or (b).
d
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Which of the following items is consistent with earnings not being informative about current performance but are informative about future earnings?
a. The firm recognizes an unexpected gain b. The firm recognizes a fair value gain on a financial asset as a result of a favorable move in interest rates. c. The firm recognizes additional expenses this period due to pre-opening costs associated with new stores. d. The firm experiences a large jump in sales and earnings as a result of successful research and development of new products.
The direct materials costs and direct labor costs incurred by a production department are referred to as conversion costs
Indicate whether the statement is true or false
In ________, chaebols are very large, family-held conglomerates that have considerable political and economic power.
A. Japan B. Thailand C. South Korea D. China
The marketing manager for Aerial Photography, Inc. says his sales reps have gotten in the habit of setting prices that do not produce a profit. Aerial Photography is apparently using
A. flexible pricing. B. administered pricing. C. penetration pricing. D. profit minimization pricing. E. introductory price dealing.