Vehicle Wholesale Company and Walt's Retail Motors enter into a contract for a sale of used cars. Vehicle Wholesale assures Walt's that it has valid title to the vehicles. Under the UCC, warranties of title arise
A) automatically in most sales contracts
B) only if the buyer asks for such a warranty.
C) only if the seller expresses such a warranty.
D) only in conjunction with lease contracts, not sales contracts.
A
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When common stock is issued at an amount greater than par value, the difference between the par value and the proceeds from the sale is recorded by
A) crediting the common stock account. B) debiting an additional paid-in capital account. C) crediting the retained earnings account. D) crediting an additional paid-in capital account.
List and briefly describe the differences between industrial or organizational buying and consumer purchasing behavior
What will be an ideal response?
Foster Florist specializes in large floral bouquets for hotels and other commercial spaces. The company has provided the following data concerning its annual overhead costs and its activity based costing system:Overhead costs: Wages and salaries$82,000?Other expenses 74,000?Total$156,000?Distribution of resource consumption:Activity Cost Pools Making BouquetsDeliveryOtherTotalWages and salaries45%40%15%100%Other expenses35%55%10%100%The "Other" activity cost pool consists of the costs of idle capacity and organization-sustaining costs.The amount of activity for the year is as follows:Activity Cost PoolActivityMaking bouquets73,020?bouquetsDelivery16,800?deliveriesWhat would be the total overhead cost per delivery according to the activity based costing system? In other
words, what would be the overall activity rate for the deliveries activity cost pool? (Round to the nearest whole cent.) A. $4.38 B. $3.95 C. $2.67 D. $5.24
The form that serves as authorization to withdraw materials from the storeroom is known as the:
a. Materials requisition. b. Purchase order. c. Purchase requisition. d. Returned materials report.