Barbara, a wealthy widow, promises the pastor of her church that she will donate $20,000 to the church to help pay off its mortgage if the stewardship committee can obtain enough pledges for the balance of the $80,000 mortgage. Other pledges are obtained to pay off the mortgage, but now Barbara has changed her mind and plans to take an around-the-world cruise instead. In this case:
A) the doctrine of promissory estoppel can be applied.
B) the promise to pay $20,000 is a promise to give a gift and is therefore not enforceable.
C) under the Restatement, Barbara's promise is enforceable only if it is in writing.
D) Barbara's promise is not enforceable because the church did not give consideration.
A
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The matching concept states that expenses incurred to produce particular revenues should be matched with those revenues
a. True b. False Indicate whether the statement is true or false
Which of the following is true of penetration pricing?
A) Penetration pricing is a variation of a premium pricing strategy. B) Penetration pricing is a mass-market strategy rather than a niche strategy. C) Penetration pricing is best used when there are no competitors in the market and entry is difficult. D) Penetration pricing is used in a market where product differentiation is high. E) Penetration pricing is most effective when potential customers are quality-sensitive rather than price-sensitive.
Which assertion addresses whether the financial statements items are properly classified in the financial statements?
a. Completeness. b. Existence. c. Valuation. d. Presentation and Disclosure.
From the graph given below, identify the fixed costs line.
A) OB
B) AC
C) AD
D) AE