Under the UCC, if a party modifies a proposed sales contract, new consideration must be provided for the change for a contract to be formed
a. True
b. False
Indicate whether the statement is true or false
False
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A company had an increase in interest payable during the year and also amortized discount on bonds payable. Under the direct method, the amount of interest paid during the year to be reflected in the statement of cash flows is
A) interest expense plus the increase in interest payable minus the discount amortization. B) interest expense plus the increase in interest payable plus the discount amortization. C) interest expense minus the increase in interest payable minus the discount amortization. D) interest expense minus the increase in interest payable plus the discount amortization.
Telling readers where to find information on an unfamiliar system can be considered which of the following compositional modes?
A) Narrative B) Reference materials C) Summaries D) Orientations E) Conversations
Falcon Co Produces a single product. Its normal selling price is $30 per unit. The variable costs are $19 per unit. Fixed costs are $25,000 for a normal production run of 5,000 units per month. Falcon received a request for a special order that would not interfere with normal sales. The order was for 1,500 units and a special price of $20.00 per unit. Falcon Co has the capacity to handle the
special order and, for this order, a variable selling cost of $1 per unit would be eliminated. If the order is accepted, what would be the impact on net income? A) decrease of $750 B) decrease of $4,500 C) increase of $3,000 D) increase of $1,500
Which of the following laws has the purpose of protecting competition?
A. Sherman Antitrust Act. B. Fair Trade Act. C. Unfair Practices Act. D. Federal Trade Commission Act. E. Lanham Act.