When an anticipatory repudiation of a contract occurs, the non-breaching party may do any of the following except:
A) do nothing and wait for performance per the contract
B) immediately declare a breach of contract.
C) consider the repudiation as an offer to cancel the contract.
D) immediately seek an injunction.
D
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Nelson Corp uses the indirect method to prepare the statement of cash flows
Refer to the following section of the comparative balance sheet: Nelson Corp Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Increase/(Decrease) Accounts Payable $8,000 $9,000 $(1,000 ) Accrued Liabilities 3,000 1,500 1,500 Long-term Notes Payable 56,000 60,000 (4,000 ) Total Liabilities $67,000 $70,500 $(3,500 ) The change in Accounts Payable is as a negative cash flow in the adjustments to net income. Indicate whether the statement is true or false
Aunt Ellie promises her 21-year-old nephew, Robbie, that she will pay him $100 if he quits smoking for a month. If Robbie does, is there a binding contract?
A) No, because Robbie gave no benefit to Aunt Ellie B) No, because Robbie did not suffer any detriment C) Yes, because stopping smoking will benefit Robbie's health D) Yes, because Robbie gave up a legal right
Consider the seven statements that follow.1. An analysis of fixed overhead will typically result in the computation of the fixed-overhead spending variance and the fixed-overhead volume variance.2. The standard rate for fixed overhead is computed by dividing a company's budgeted fixed overhead for the period by the planned manufacturing activity.3. A company uses direct labor hours to apply manufacturing overhead to units of production. If the company reports an unfavorable labor efficiency variance, that same firm might report a favorable variable-overhead efficiency variance in the same accounting period.4. The amount of actual fixed overhead for an accounting period is used to compute the fixed-overhead volume variance.5. If a company's standard hours allowed for the manufacturing
activity attained exceeds the planned manufacturing activity, the firm will report a favorable fixed-overhead volume variance.6. The amount of fixed overhead that a company has budgeted for an accounting period will increase or decrease with the actual number of units produced.7. The fixed-overhead volume variance indicates whether the level of production activity attained is higher or lower than the level originally anticipated.Required: Determine whether the preceding statements are true or false. If a statement is false, briefly explain why it is false. What will be an ideal response?
Groupthink is the tendency for a team to want to conform in an effort to minimize conflict
Indicate whether the statement is true or false