Michael is 17 years old and earns extra money by repairing cars. Nathan, who is 21, brings his car to Michael for repairs, and Michael ruins the brake system of the car because of his inexperience. If Nathan sues Michael for negligence in performing the auto repair contract, in most states Michael will have no liability, because the tort of negligence and the auto repair contract are connected
a. True
b. False
Indicate whether the statement is true or false
True
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On January 1, 2015, A-Best Company's balance in retained earnings was $70,000 . At the end of the year, December 31, 2015, the balance in retained earnings was $94,000 . During 2015, the company earned net income of $40,000 . How much were dividends?
a. $16,000 b. $24,000 c. $40,000 d. $64,000
Why is the net realizable value of scrap used to lower estimated overhead costs in setting a predetermined overhead rate in a job order costing situation in which scrap is expected on most jobs?
If the volume of sales is $7,000,000 and sales at the break-even point amount to $4,800,000, the margin of safety is 45.8%
Indicate whether the statement is true or false
A staff meeting is
a. usually held at an off-site resort setting. b. encourages two-way communication. c. the same as a Board of Directors meeting. d. all of these choices.