The proper tender of goods to, and their acceptance by, the buyer entitles the seller:
a. to be paid at least 50% of the total amount specified in the contract b. to be paid according to the contract
c. to be paid no later than one year after the proper tender of the goods d. nothing
e. the right to reject the contract
b
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Precious metals can be valued above costs because they are immediately marketable at a quoted market price.
Answer the following statement true (T) or false (F)
______ is the ability to get things done in a manner that suits one’s goals.
a. Inspiration b. Power c. Vision d. Mission
The Credit Card Accountability and Disclosure Act (CARD) regulates credit card billing cycles by:
A. prohibiting double-cycle billing. B. allowing a maximum of $30 penalty fee for late payment of credit card debts. C. allowing penalties to exceed the minimum balance due. D. issuing cards to applicants under 21 years without a cosigner.
Machinery is purchased on credit. What effect does this transaction have on the accounting equation?
A) Assets and liabilities increase B) Assets and stockholders' equity increase C) Liabilities increase and stockholders' equity decreases D) Assets and liabilities decrease