Major advantages of e-commerce to buyers include
A) finding products and services that are not available in local stores.
B) buying in groups.
C) shopping globally.
D) all of the above.
D
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Gross profit is the difference between:
a. net sales and operating expenses. b. net sales and the cost of goods sold. c. net sales and the cost of goods sold plus all expenses. d. gross sales less sales discounts and sales returns and allowances. e. the cash balance and net sales for the period.
A corporation is a legal entity created by federal law
Indicate whether the statement is true or false
Which of the following is NOT a relevant consideration in a court's decision to void a
contract made with a mentally incompetent person? A) That the impairment was so serious so that the person did not understand the nature and consequences of his actions. B) That the contract is not one for necessities C) That the other party knew of the impairment at the time the contract was made D) That the agreement was cancelled within a reasonable time by the drunk or mentally incompetent person. E) That the price paid under the contract was high
Twenty years after you take this class you are successful and wealthy. Knowing that this class was the key to your success, you look up your old professor and send a letter saying, "Because you helped me so much, I am going to send you a check for $100,000." Later you come to your senses and do not send the check. Your old professor sues you for the money:
a. you have to pay; there is a valid contract b. you do not have to pay; the professor did not send a timely letter of acceptance c. you do not have to pay; you were legally insane d. you do not have to pay; promissory estoppel applies e. none of the other choices