What is the merchant's exception?
What will be an ideal response?
Within a reasonable time of making an oral contract, if one merchant sends a written confirmation to the other, and the confirmation is definite enough to bind the sender herself, then the merchant who receives the confirmation will also be bound by it unless he objects in writing within 10 days.
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Information that is related to past events is relevant in the decision-making process
Indicate whether the statement is true or false
Which of the following accounts would be closed at the end of the year using the perpetual inventory system?
A. Cost of Goods Sold B. Merchandise Inventory C. Accounts Receivable D. Accounts Payable
Krishna and Ravi operate a sari store as a partnership. They agree privately that they will not order supplies over $10,000 without both signatures. When Krishna is on vacation, Ravi orders $20,000 worth of silk
Krishna objects to paying the supplier and wants to return the shipment. The supplier sues the partnership. Which of the following is true? A) the partnership must pay the supplier because private restrictions don't affect outsiders to the partnership B) the partnership must pay because it owes a fiduciary duty to the supplier C) the partnership does not have to pay because Ravi exceeded her authority D) the partnership does not have to pay because Ravi exceeded her apparent authority. E) the supplier has to take back the shipment since there were not two signatures on the contract
Stephen Covey refers to the continual renewing of physical, mental, social/emotional, and spiritual dimensions as ______.
A. long in the tooth B. hair of the tiger C. sharpening the saw D. hitting the nail on the head