A contract in which both parties exchange promises is a(n):
a. quasi contract.
b. voidable contract.
c. bilateral contract.
d. unilateral contract.
c
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Insuring a factory is classified as a(n) __________-level activity in an activity-based costing system
A) operations B) batch C) unit D) facility
The focus of accounting regulation is on:
a. mandatory reporting. b. improving the quality of reported information. c. standards overload. d. underproduction of accounting information.
Based on the findings of the 2011 National Business Ethics Survey, what is not a positive trait for baby boomers?
a. Hardworking b. Idealistic c. committed to harmony d. Tech savvy
Revenue and expense accounts at the beginning of the accounting period, and at the end of the accounting period after the post-closing trial balance has been prepared, should have:
a. zero balances. b. positive balances. c. a net balance (credits minus debits) equal to the capital account. d. a net balance (credits minus debits) equal to total assets. e. negative balances.