Carswell, a contractor, enters into a contract with Helen, a homeowner, to remodel her bathroom. The contract provides a specific completion date. The contract provides that if Carswell does not have the job finished by the date, Helen may deduct $200 per day from the contract price until the job is finished. This is an example of liquidated damages
a. True
b. False
Indicate whether the statement is true or false
True
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Hawk Store counted some of its inventory twice. As a result, its operating expenses will be
a. Understated b. Correct only if Hawk Store calculates it cost of goods sold correctly c. Overstated d. Correct since operating expenses are not affected by inventory costs
When using departmental accounting, only indirect operating expenses are shown on the company's income statement
Indicate whether the statement is true or false
An attorney-in-fact is the label given to an agent whose authority is:
A. assumed after the death of the principal. B. in writing. C. apparent. D. implied.
Which sentence uses correct capitalization?
A) For Valentine's day my boyfriend took me to Wrigley Field in the windy city. B) For Valentine's Day my boyfriend took me to Wrigley Field in the Windy City. C) For valentine's day my boyfriend took me to wrigley field in the windy city.