Fecund Farms files a suit against Grain Mill Corporation under the doctrine of prom-issory estoppel. Fecund Farmsmust show that
A) Fecund Farmsjustifiably refused to fulfill a promise to Grain Mill
B) Fecund Farmsjustifiably relied on Grain Mill'spromise to its detriment.
C) ?Grain Milljustifiably refused to fulfill a promise to Fecund Farms.
D) Grain Milljustifiably relied on Fecund Farms'spromise to its detriment.
B
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By harvesting its SBU, a company would most likely be ________
A) milking the SBU's short-term cash flow regardless of the long-term effect B) selling the SBU or phasing it out and using the resources elsewhere C) investing just enough to hold the SBU's current market share D) investing more in the business unit to build its share E) diversifying the company's product line
Under the net method, when a company uses a perpetual inventory system, an invoice for $2,000 with terms of 2/10, n/30 should be recorded with a debit to Merchandise Inventory and a credit to Accounts Payable of $2,000.
Answer the following statement true (T) or false (F)
Which of the following is true about certification methods?
A. Newer certification procedures are moving away from on-demand review and towards scheduling fixed-review points.. B. Scheduling makes it more difficult to budget and control payroll increases. C. Certification cannot be accomplished through peer review. D. Recertification has been replaced with one-time certification. E. Certification cannot be accomplished through on-the-job demonstrations.
Ransom, Inc. budgets direct materials cost at $1.10/liter and each product requires 4 liters per unit of finished product. April's activities show usage of 832 liters to complete 196 units at a cost of $798.72. Compute the direct materials price and quantity variances. Indicate if the variance is favorable or unfavorable.
What will be an ideal response?