Flo tells Ginger during a phone call that she will buy her textbook from last semester for $65. Ginger agrees. These parties have
A. no contract.
B. an express contract.
C. an implied contract.
D. a quasi contract.
Answer: B
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Which of the following statements is true about rules of law?
A) Legal reasoning is complex because statutes and findings are never crystal-clear. B) Judges and businesspeople do not have room for interpretive flexibility in their reasoning. C) Judges can offer any reasoning they please. D) They tend to cloud a judge's reasoning, and should be avoided when reaching a decision.
Scheuer Corporation uses activity-based costing to compute product margins. In the first stage, the activity-based costing system allocates two overhead accounts-equipment expense and indirect labor-to three activity cost pools-Processing, Supervising, and Other-based on resource consumption. Data to perform these allocations appear below:Overhead costs: Equipment expense$55,000Indirect labor$7,000??Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools ProcessingSupervisingOtherEquipment expense0.100.700.20Indirect labor0.500.100.40Finally, sales and direct cost data are combined with Processing and Supervising costs to determine product margins.Activity: MHs (Machining)Orders (Order Filling)Product Q!1,000700Product
S619,0001,300Total20,0002,000Finally, sales and direct cost data are combined with Processing and Supervising costs to determine product margins.Sales and Direct Cost Data: Product Q1Product S6Sales (total)$134,600$186,300Direct materials (total)$76,000$64,800Direct labor (total)$40,800$78,400What is the product margin for Product Q1 under activity-based costing? A. -$13,200 B. $3,630 C. $17,350 D. $17,800
Compare and contrast the following forms of business organization as to ease of formation, liability of owners, management, and tax implications: sole proprietorship, general partnership, limited liability company, and corporation.
What will be an ideal response?
When developing a chart of accounts, the highest block of numbers is assigned to asset accounts.
Answer the following statement true (T) or false (F)