A(n) ________ is a written, dated, and signed three-party instrument containing an unconditional order by a drawer that directs a drawee to pay a definite sum of money to a payee on demand or at a specified future date
A. codicil
B. promissory note
C. deed
D. bill of exchange
D
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Which method assigns the cost of the most recent items purchased to cost of goods sold?
a. Specific identification b. Weighted average cost c. FIFO d. LIFO
In a common-size income statement for a retail store, the 100 percent amount is for
A) net revenues. B) cost of goods sold. C) gross profit. D) net income.
The Internet was started in the 1960s as a project to link military contractors and universities. The World Wide Web was created as a subnetwork of the Internet
a. True b. False Indicate whether the statement is true or false
Oceanside entered into a contract with the seller Old Tennessee, for the purchase of $6,431 worth of plants. The terms were sale and delivery C.O.D. with the express provision of "No Risk to Supplier," and a large logo at the top of papers stating:
"NOTICE: ALL SHIPMENTS TRAVEL AT RISK AND COST OF PURCHASER." The plants were shipped by an experienced truck common carrier. Upon arrival in New York, it appeared as though some plants were in a poor state because of excessive heat. Although the carrier on its own marked the bill of lading to indicate that the temperature in the truck should be 50 degrees, this was not done for at least a portion of the journey. Oceanside rejected the shipment by writing "rejected" on the back of the trucker's bill of lading. However, the plants were retained "on consignment" at Oceanside's premises. There were no other formal written rejections or official notices of breach or defects given by the buyer to seller at any point prior to trial. Discuss who has the risk of loss.