To simplify, clarify, and modernize the law governing commercial transactions, the UCC permits the use of "open terms" in sales contracts. In the use of "open terms," which of the following is true?
a. The court will use market value and other comparable sales to determine what a reasonable price would have been at the time of delivery if the parties have not settled the price in the contract.
b. If time of payment is not mentioned in the contract, payment within a commercially reasonable time is presumed.
c. If the contract permits the buyer or seller to determine the price during contract performance, the UCC requires the party to do so in good faith.
d. All of the above are true.
d
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Which of the following is true about technological boundaries?
a. Technology has grown more confusing in recent times. b. Technology has increased our work-related tasks and maintenance. c. The amount of data we can carry has decreased. d. Increased technological communication does not allow us to move as freely as before.
In a short essay, define unstructured questions and discuss at least two advantages and two disadvantages to using these types of questions
What will be an ideal response?
Which of the following is a column in a purchases journal?
A) Cost of Goods Sold CR B) Accounts Payable CR C) Sales Revenue DR D) Other Accounts CR
Financial shenanigans involving recording revenue too soon includes all of the following except:
A. Recording revenue when future services are still to be provided B. Recording revenue after customer acceptance C. Recording revenue when the customer is not obligated to pay D. Recording revenue before shipment of a product