A buyer who rightfully rejects nonconforming goods may obtain cover or cancel the contact, but may not seek damages
Indicate whether the statement is true or false
False
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Stogdill’s second study found ______.
A. no significant differences in traits from 1948 to 1974 B. situational factors could not be identified C. emotional intelligence plays a significant role in leadership D. both traits and situational factors are determinants of leadership
Tough and Strong Inc expects to sell 51,000 units of its product in the coming year. Each unit sells for $45. Sales brochures and supplies for the year are expected to cost $7,000. Three sales representatives cover the Northeast region. Each one's base salary is $25,000, and each earns a sales commission of 5 percent of the selling price of the units he or she sells. The sales representatives use
their own transportation; they are reimbursed for travel at a rate of $0.40 per mile. The company estimates that the sales representatives will drive a total of 75,000 miles next year. From the information provided, calculate the company's budgeted selling expenses for the coming year. A) $226,750 B) $176,750 C) $151,750 D) $114,750
The primary focus of compliance-based ethics programs is on
A. increasing individual ethical responsibility. B. training employees on financially viable methods. C. creating awareness about ethical issues. D. giving tools to make ethical decisions. E. detecting and punishing legal violations.
Montclair Corporation had current and accumulated E&P of $500,000 at December 31, 20X3. On December 31, the company made a distribution of land to its sole shareholder, Molly Pitcher. The land's fair market value was $200,000 and its tax and E&P basis to Montclair was $50,000. Molly assumed a liability of $25,000 attached to the land. The tax consequences of the distribution to Montclair in 20X3 would be:
A. No gain recognized and a reduction in E&P of $175,000. B. $150,000 gain recognized and a reduction in E&P of $175,000. C. No gain recognized and a reduction in E&P of $200,000. D. $150,000 gain recognized and a reduction in E&P of $200,000.