In interpreting an ambiguous contract, one part of the contract:
A) must be viewed in isolation
B) must be viewed as a condition.
C) must be viewed in connection with the rest of the contract.
D) must be viewed as indicating joint and several liability.
C
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Which of the following holds true of the seller's entitlement on the recovery of purchase price of goods?
A. The seller is not entitled to the purchase price of all goods accepted by the buyer. B. Even if the seller successfully resells the goods, he can claim recovery of the purchase price from the buyer. C. The seller cannot recover the purchase price of goods damaged after the buyer assumed the risk for their loss. D. If the seller resells goods to another buyer, the seller must give the first buyer due credit for the proceeds of the resale.
Which of the following is among the three most common complaints against small or mid-sized CPA firms, according to the Journal of Accountancy?
a. failure to exercise due professional care b. misappropriation of funds c. collusion with client for the purposes of tax fraud d. general sloppiness of work for client
Which of the following statements are false regarding the way managements ranks capital projects?
a. A high NPV is better than a low NPV. b. A high IRR is better than a low IRR. c. A low PI is better than a high PI. d. A short payback period is better than a long payback period.
Why is changing a problem culture one of the toughest management tasks? Explain and justify your answer.
What will be an ideal response?