Bart sends Carla an offer by express mail. Carla receives it at 10 a.m. on Tuesday. At 11 a.m. on Tuesday, Carla delivers an acceptance to Speedy Mail-to-You Express, Inc, but due to their error, the letter is not sent out by the company until Wednesday at 8 a.m. At what time does the law consider the acceptance to be effective?
a. At 10 a.m. on Tuesday.
b. At 11 a.m. on Tuesday.
c. At 8 a.m. on Wednesday.
d. At the time Bart receives the letter.
b
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One characteristic of incremental budgeting is that it
A. allows comparison using various units, like labor hours and dollars. B. is flexible towards changing environmental demands. C. locks managers into stable spending arrangements. D. allows easy comparison of different departments doing different activities. E. requires more time from managers than zero-based budgeting.
A prior period adjustment should be reported as an adjustment to the retained earnings balance at the beginning of the period in which the adjustment was made
a. True b. False Indicate whether the statement is true or false
Under the_____________method, the amount of cash paid to suppliers of inventory is shown as a deduction in the operating activities category of the cash flow statement
Fill in the blank(s) with correct word
To respond to a competitive environment, one thing that Walmart is doing is
A. expanding into rural locations. B. focusing on high customer service. C. leasing retail space in its stores to independent merchants. D. converting its discount stores into supercenters. E. converting the discount stores into convenience stores.