An agent may be personally liable to third parties on a contract if
a. the agent assumes liability.
b. the agent signs a negotiable instrument in his or her own name and issued by the third party on the instrument.
c. the agent acts for an undisclosed principal.
d. all of these.
D
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In an open-item system, accounts receivable records consist of a customer's current balance due, past-due balance, and the finance charges and payments related to the account
Indicate whether the statement is true or false
Mandisa Sounds, Inc, a specialty retailer of customized audio systems for automobiles, installed a perpetual inventory system in the second quarter of 2011. The new system allowed the firm to adjust its merchandise inventories to sales patterns more
effectively and to prepare monthly financial statements. Although the system led to an improvement in sales and income, the gross margin on the monthly income statements was falling below both management's expectations and the industry average. At the end of 2014, a physical inventory revealed that actual merchandise inventory was considerably lower than the perpetual inventory records indicated. The merchandise inventories of some stores were off more than others, but all had deficiencies. What probably caused these losses and what steps could be taken to prevent them in the future?
A sales representative at Oxtren, Inc orally told the purchasing agent at Wety, Inc that its industrial saw will cut through metal up to 5 inches thick. Wety purchased the saw. Which statement is correct concerning the claim that the saw can cut through metal up to five inches thick?
a. The claim is an express warranty. b. The claim is an implied warranty of merchantability. c. The claim is not a warranty because it is not in writing. d. The claim is not a warranty because it is sales puffery.
All of the following are benefits to be stressed during the promotion of services EXCEPT:
A. availability. B. low price. C. efficiency. D. location. E. consistent quality.