What is a contract?
What will be an ideal response?
A contract is a legally enforceable promise or set of promises. A contract is (1) an agreement (an offer and an acceptance of the offer) (2) supported by consideration (with some exceptions) (3) voluntarily entered into (4) by parties having capacity to contract (5) to do a legal act or acts. In addition to these elements, written evidence of some kinds of contracts is required.
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Most audit firms use a schedule to accumulate the known and projected misstatements and the carryover effects of prior-year uncorrected misstatements. Which of the following statements regarding this process is false?
a. Adjustments made to correct the financial statements are referred to as booked. b. Possible adjustments to the financial statements that are left uncorrected are referred to as waived. c. Tax effects are not shown on schedules of correcting errors. d. The nature of the misstatement, as well as the quantitative amount, is considered in the judgment of materiality.
SERVQUAL is ______.
a. an instrument designed to evaluate service quality b. a leading mystery-shopping organization c. a leading budget motel chain d. a method to make all service equal
A company's flexible budget for 12,000 units of production showed per unit contribution margin of $3.00 and fixed costs, $20,000. The operating income expected if the company produces and sells 18,000 units is:
A. $24,000. B. $10,000. C. $16,000. D. $34,000. E. $18,667.
Which sentence uses correct capitalization?
A) She and I were students in the online business program at DeVry university. B) she and i were students in the online business program at DeVry University. C) She and I were students in the online business program at DeVry University.