Which of the following statements regarding identification of goods under the UCC is false?
A) Unborn animals must come into existence before they can be identified.
B) Identification can be made in any manner explicitly agreed to by the parties to the
contract.
C) Risk of loss may shift to the buyer before identification occurs.
D) Purchased goods that are part of a larger mass are identified when designated as the
goods sold to the buyer.
C
You might also like to view...
No single explanation can be given for the divergence of accounting standards
a. True b. False Indicate whether the statement is true or false
Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) 1. Acquired $4100 cash from issuing common stock. 2. Borrowed $2750 from a bank. 3. Earned $3650 of revenues. 4. Incurred $2510 in expenses. 5. Paid dividends of $510. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions.) 1. Acquired an additional $1050 cash from the issue of common stock. 2. Repaid $1685 of its debt to the bank. 3. Earned revenues, $5050. 4. Incurred expenses of $2970. 5. Paid dividends of $1300. What was the amount of liabilities on Lexington's balance sheet at the end of Year 2?
A. $790. B. ($1685). C. $1050. D. $1065.
Freight-absorption pricing is used for ________
A) penetrating international markets B) generating customer buzz about new products C) holding on to increasingly competitive markets D) generating quick profits to offset input costs E) maintaining quality service records
Discuss service quality as a competitive advantage for a service provider.
What will be an ideal response?