How does "usage of trade" affect the rights and obligations of buyers and sellers in contracts for the sale of goods transactions?
What will be an ideal response?
In many kinds of businesses, there are customs and practices of trade that are known by people in the business. These customs and practices are usually assumed by parties to a contract for goods of that type. Under the Uniform Commercial Code (UCC), these trade customs and practices can be used in interpreting a contract. If there is a conflict between the express terms of the contract and trade usage, the express terms prevail.
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Centennial Company sold 600 units of inventory at $20 per unit on account. The company uses the perpetual inventory system and the last-in, first-out (LIFO) inventory costing system. The beginning inventory included 200 units at $9 per unit. The most recent purchases include 700 units at $12 per unit. The sale occurred after the last purchase.
a. Prepare the journal entries to record the sale. Omit explanations. b. Compute the cost of the ending inventory. Label your work.
Lexie cannot make up her mind on which shoes she should pick for her winter formal. She has spent over an hour with the shoe salesperson, Kris, going back and forth from sandals to pumps then to wedges. Even though Kris feels annoyed, she has kept her composure. Kris has remained responsive and available. Kris is compelled to be polite regardless of her true feelings. This is an example of ______.
A. emotional dissonance B. negative affect C. house rules D. emotional contagion
Answer the following statements true (T) or false (F)
1. Leveraging structural and systematic change will create major animosity with one’s employees. 2. Change proposals should only be introduced once formal approval is obtained. 3. Acceptance can be increased despite initial resistance if the project has been through a rigorous review. 4. Formal approval tends to follow the same general decision-making process in most organizations. 5. Moving forward without formal approval establishes creeping commitment to the change project.
In which of these funds does the portfolio of assets generally remain unchanged?
A) Closed-end funds and unit investment trusts B) Exchanged traded funds and HOLDRs C) Closed-end funds and open-end trusts D) Exchange traded funds and unit investment trusts