At an auction for the first time, Darcy bids on a one-hundred-year-old Edison-brand phonograph, believing that it is worth more than the price asked. When the item proves to be less valuable, Darcy is
A) liable on the bid
B) not liable on the bid because Darcy overestimated the value of the item.
C) not liable on the bid because the auctioneer overstated the value of the item.
D) not liable on the bid because this was Darcy's first auction
A
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In the vertical structure of a firm, authority is the
A. influence a manager has over his or her subordinates' personal life. B. ability of managers to avoid accountability for their subordinates' actions. C. unconditional power of managers to discriminate against their subordinates based on race, ethnicity, or gender. D. legitimate right of a manager to make decisions and to tell other people what to do. E. power of subordinates to reject the work responsibility delegated to them without any reason.
Plaxo Corporation has a tax rate of 35% and uses the straight-line method of depreciation for its equipment, which has a useful life of four years. Tax legislation requires the company to depreciate its equipment using the following schedule: year 1- 50%, year 2 - 30%, year 3 - 15% and year 4 - 5%. In 2014 Plaxo purchases a piece of equipment with a four year life and an original cost of $100,000
. What amount will Plaxo record as a deferred tax asset or liability in 2010? a. Deferred tax asset of $25,000. b. Deferred tax liability of $25,000. c. Deferred tax asset of $8,750. d. Deferred tax liability of $8,750.
A marketing plan, by definition, is contained within a business plan
Indicate whether the statement is true or false
If Moore pays a $600 insurance premium for a one-year policy on January 31 for coverage from February 1 of Year1 through January 31 of Year 2, the journal entry to be made at the end of February Year 1 would include a debit to Insurance Expense for $600
Indicate whether the statement is true or false