Which of the following contracts is most likely to be declared unconscionable?
a. A consumer sales contract which charges 300 times the fair market value of the goods.
b. A consumer sales contract which limits the consumer's remedies to repair or replacement.
c. A contract between wholesaler and retailer which adds delivery charges at 15% of the costs of the goods.
d. A sales contract between wholesaler and retailer which limits remedies such as consequential damages.
a
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In the contingency model, if your leadership orientation does not match the situation in your workplace, Fiedler recommends that you
A. alter your leadership style. B. move to a more suitable situation. C. try to alter employees' personalities. D. get an assistant with the preferred orientation. E. gradually change the makeup of your employees.
Which of the following activity is not part of the compilation of prospective financial statements?
a. Assembling prospective financial statements based on the responsible party's assumptions. b. Performing compilation procedures, including reading the prospective financial statements, along with their assumptions and accounting policies, and considering whether they appear to be presented in conformity with AICPA presentation guidelines and that they are not obviously inappropriate. c. Issuing a compilation report. d. Providing assurance on the prospective financial statements.
The accounts payable subsidiary ledger ________.
A) does not indicate the amount owed to each vendor B) shows only a single total for the amount owed on account C) lists vendors in alphabetical order, along with amounts paid to the vendors and the remaining amounts owed to them D) has a format that is entirely different from an accounts receivable subsidiary ledger
Which of the following is not true?
a. All corporations must issue common stock. b. Common shareholders have a claim on the assets of a firm after creditors and preferred shareholders have received amounts promised to them. c. Frequently, corporations grant voting rights only to common shares, giving their holders the right to elect members of the board of directors and to decide certain broad corporate policies (spelled out in the stock contract). d. Some firms issue more than one class of common shares, with each class granted different voting rights. e. Firms generally issue preferred shares, both at the time of initial incorporation and in subsequent years, for amounts greater than par (or stated) value.