Jack has been in the business of selling carpeting for 20 years. He calls Bob, who is opening another branch of his furniture stores, and offers to sell him 100 square yards of carpet at $20 per square yard. Bob agrees and sends back the following letter confirming the deal: Dear Jack: As we discussed on the phone January 3, we accept your offer of 100 square yards of Saxony "heather blue"
carpeting at the rate of $20 per square yard. We also reserve the right to purchase any additional yardage we need to carpet our other showroom facilities at the same rate for one year from that date. Very truly yours, Bob Which of the following is true?
a. There is a contract for only 100 square yards of carpeting.
b. There is a contract for 100 square yards PLUS the additional yardage.
c. There is no contract since Bob made a counteroffer.
d. There is no contract because the additional term is too uncertain to become a contract term.
a
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NAFTA is an example of a
A. protective tariff agreement. B. global financial institution. C. regional free-trade agreement. D. collective bargaining agreement. E. military alliance.
Assume the indirect method is used to compute net cash flows from operating activities. For this item extracted from the financial statements—Decrease in Prepaid Expenses—indicate the effect on net income in arriving at net cash flows from operating activities by choosing one of the following:
a. Add to net income to arrive at net cash flows from operating activities b. Subtract from net income to arrive at net cash flows from operating activities c. Not used to adjust net income to calculate net cash flows from operating activities
The payables turnover is the number of times, on average, that accounts payable are paid in an accounting period
Indicate whether the statement is true or false
Facilities management refers to ______.
A. selecting the best locations and planning for the optimal manufacturing or service capacity B. managing the layouts of distribution centers at major retailers such as Walmart C. organizing the recruitment and staffing at retail centers D. arranging for the storage of raw materials at intermediate points on the transportation route