Bob, a house builder, contracts with Ollie to build a house on Ollie's lot. The total price of the construction is $100,000, $20,000 of which will be Bob's profit. After Bob has put $10,000 worth of materials into the house, Ollie wrongfully refuses to let him finish the house. If Bob sues for damages, he will be able to collect
a. $10,000.
b. $20,000.
c. $30,000.
d. $100,000.
c
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Answer the following statements true (T) or false (F)
1) Ending inventory equals the cost of goods available for sale less beginning inventory. 2) Companies determine the number of units on hand from perpetual inventory records backed up by a physical count. 3) Each inventory costing method matches the flow of inventory costs in a business and is used to determine ending inventory and cost of goods sold. 4) The specific identification method of inventory costing is required to be used by businesses that sell unique, easily identified inventory items. 5) The specific identification method of inventory requires businesses to keep detailed records of inventory sales and purchases and to also be able to carefully identify the inventory that is sold.
Studies of the effects in the workplace of which element below showed that employees are motivated by clear goals accompanied by appropriate feedback?
A. Herzberg’s two-factor theory B. McClelland’s acquired needs theory C. Goal-setting theory D. Alderfer’s ERG theory
Which guideline for deciding on the number of MDS dimensions warns that it is difficult to interpret configurations or maps derived in more than three dimensions?
A) a priori knowledge B) interpretability of the spatial map C) ease of use D) elbow criterion
The Chair Trade is an independent furniture store that specializes in selling Amish-style furniture and household items. Until the first of the year, its overall sales revenue was slowly increasing
Since the first of the year, however, sales of small items increased while sales of furniture decreased, leading to declining sales revenue. How could the owner of the store rely on market intelligence to understand the change in consumer buying behavior? Should the owner rely solely on market intelligence? Why or why not?