What is the effect of one party being mistaken about the subject matter of a contract?
A) Either party can rescind the contract and/or recover damages.
B) The mistaken party can rescind the contract.
C) Either party can rescind the contract, and the mistaken party can recover damages.
D) Either party can rescind the contract.
E) Neither party can rescind the contract or recover damages.
E
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Which of the following statements is true when using the indirect method of preparing the operating activities section of the statement of cash flows?
a. Inventory decreases are subtracted from net income. b. Inventory increases are subtracted from net income. c. Inventory increases are added to net income. d. None of the above.
Which of the following casts corporate practitioners in the role of serving as liaisons between their corporations and governmental units?
A. Public affairs D. Issues management B. Lobbying E. Development C. Marketing
During its most recent fiscal year, Raphael Enterprises sold 200,000 electric screwdrivers at a price of $15 each. Fixed costs amounted to $400,000 and pretax income was $600,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year in question?
A. $1,000,000. B. $2,000,000. C. $3,000,000. D. $1,600,000. E. $2,400,000.
The departmental overhead rate method uses a different overhead rate for each production department.
Answer the following statement true (T) or false (F)