Basa Industries, Inc, because of processing changes, has "0" emissions from its plant in New Mexico. However, Basa holds a permit for emissions from the EPA. Basa:
A) must return the permit to the EPA
B) can sell the permit privately.
C) can sell the permit only through the EPA.
D) must use the permit or forfeit it in six months.
B
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Which of the following journal entries is required to close the Income Summary account of a company with a net loss?
a. Debit Income Summary, credit Capital Stock. b. Debit Income Summary, credit Retained earnings. c. Credit Income Summary, debit Retained earnings. d. Credit Income Summary, debit Dividends.
Increasingly commonplace today is the appearance of two different franchise chains under the same roof, such as Pizza-Hut and Taco Bell. This is an example of a(n) ________ marketing system
A) administered B) conventional C) cooperative D) vertical E) horizontal
Glue used in the manufacture of cabinets would be an example of a variable cost
Indicate whether the statement is true or false
Valley Paragliders Association files a suit against Wing Designers, Inc, claiming that the consideration for their contract is inadequate. The court will most likely not examine the adequacy of the considera¬tion if
a. there is a large disparity in the amount of consideration exchanged. b. the consideration involves the performance of services. c. something of value passed between the parties. d. the consideration is worth less than $100.