Janet promises Eli $4,000 for one of his original paintings on the condition that she receive $1 million from her mother's will. Janet has made:
A) an illusory promise.
B) a legally sufficient promise unless Janet knew at the time she made the promise that she could not inherit the $1 million.
C) a conditional promise which is not sufficient to form consideration.
D) a legally inadequate promise, and the courts will therefore not enforce it.
B
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The personnel department authorizes changes in employee pay rates
Indicate whether the statement is true or false
For a nonprofit organization, its ________ has to help motivate donors, staff, volunteers, beneficiaries, and partners.
Fill in the blank(s) with the appropriate word(s).
The number of days' sales in inventory
A) measures the length of time it takes to acquire, sell, and replace the inventory B) is computed by dividing the cost of merchandise sold by 365 C) measures the length of time it takes to sell the merchandise on credit and collect the account receivable D) is about the same for all industries
Zhang Company reported Cost of goods sold of $835,000, beginning Inventory of $37,200 and ending Inventory of $46,300. The average Inventory amount is:
A. $9,100. B. $83,500. C. $46,300. D. $41,750. E. $37,200.