If an agent exceeds his or her scope of authority, a principal is bound on the contract only if he or she ratifies the contract
Indicate whether the statement is true or false
TRUE
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A company's income statement showed the following: net income, $124,000 and depreciation expense, $30,000. An examination of the company's current assets and current liabilities showed the following changes: accounts receivable decreased $9,400; merchandise inventory increased $18,000; and accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.
A. $178,000. B. $159,200. C. $148,800. D. $123,200. E. $118,000.
Hill Top Products has run a regression analysis for utilities costs and the total production for the past six months. The regression analysis shows an R square (R2 ) of .86. Which of the following statements best describes the meaning of R2?
A) 86 percent of the company's total costs are utilities costs. B) 14 percent of the variation in utilities costs is explained by the increase or decrease in production. C) 86 percent of the variation in utilities costs is explained by the increase or decrease in production. D) 86 percent of the company's total costs are fixed costs and the remaining 14 percent are variable costs.
Managers must apply different standards to themselves than they apply to their employees.
Answer the following statement true (T) or false (F)
Birdie, an accountant for Country Custom Furniture, Inc., issues company checks payable to nonexistent persons drawn on Country's account at Debit Bank. Birdie indorses the checks and deposits them in her account. Country discovers the theft and demands that Debit recredit its account. Debit's best defense is that
A. Birdie was not authorized to issue the checks. B. Country was in a better position than Debit to prevent the theft. C. Debit did not know that the checks were not to be paid. D. the checks were the property of Country, not Debit.