What is physical duress?
A) physically damaging the contract documents
B) signing a contract without the knowledge that it represents fraudulent information
C) threatening to physically harm someone if he or she does not sign a contract
D) persuading a person to rescind a valid contract by misrepresenting the facts
C
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Rashid, the CEO of Top Productions, said to his new vice president of accounting, "In the past I had resistance to new ideas by employees who felt that our plans threatened their influence or their jobs. So when you tell your collections department that we just hired a collection agency to handle bad debt, you may have to sell your collections manager and his supervisors on using the agency. You also have to emphasize the fact that nobody is going to be laid off." Selling middle and supervisory managers on changes to overcome their resistance is often a necessary part of
A. reality assessment. B. strategy formulation. C. strategic control. D. operational control. E. strategy implementation.
The expense associated with an uncollectible account is recognized when it has been determined that a customer will not pay the amount owed under the
a. aging method; b. direct write-off method; c. allowance method; d. all of these; e. none of these.
Net income results in a(n)
a. increase in stockholders' equity. b. increase in revenues. c. decrease in expenses. d. decrease in liabilities.
According to the most current FASB standards, intangible assets acquired in a basket purchase which represents the acquisition of an entire business should be
a. valued by recording separately traded and contract based intangible assets at their individual fair values with any unallocated purchase price being recognized as goodwill. b. valued by allocating the total purchase price according to the relative fair values only of intangible assets that are separately tradable or contract based. c. valued by allocating the total purchase price according to the relative fair values of all assets acquired, regardless of whether the assets are separately tradable or contract based. d. valued by recording separately traded and contract based intangible assets at their individual fair values with any unallocated purchase price being expensed in the year of acquisition.