The Code has made certain offers irrevocable without the offeree giving any consideration for the promise to keep the offer open. These offers are known as:
a. firm offers.
b. manner of acceptance.
c. variant acceptances.
d. options.
a
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A cost can be a payment of cash for the purpose of generating revenues
Indicate whether the statement is true or false
Generally accepted accounting principles restrict or limit a company's freedom to change inventory cost flow methods from one year to the next.
Answer the following statement true (T) or false (F)
What effect will the elimination of the unrealized intercompany gain (in the preparation of the consolidated income statement) have on consolidated income tax expense for 2015?
On June 30, 2015, Parent Company sold some land to its subsidiary for $240,000. The land had cost Parent Company $120,000 when it was acquired three years previously. The transaction was subject to income tax at a rate of 20%. On June 30, 2017, the subsidiary sold the land to an outside party for $275,000. This transaction was also subject to income tax at a 20% rate. Parent Company owns 75% of the outstanding shares of its subsidiary and accounts for its investment using the cost method. A) It will have no effect. B) It will increase income tax expense by $24,000. C) It will reduce income tax expense by $18,000. D) It will reduce income tax expense by $24,000.
In the context of supply chain management, which of the following is true of adaptability?
A. It helps in overcoming short-term fluctuations in the supply chain. B. It can be enhanced by making a series of make-or-buy decisions. C. It involves aligning the interests of various elements in the supply chain. D. It focuses on achieving power and trust.