Profit is the payment business owners receive for assuming the risks of ownership.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Under the cash basis of accounting, revenue is recorded when earned regardless of when cash is received
a. True b. False Indicate whether the statement is true or false
Bonds that give the holder the option of exchanging the bonds for capital stock of the corporation are called
a. debenture bonds; b. callable bonds; c. serial bonds; d. convertible bonds; e. coupon bonds
What are the two main types of personal power?
A. coercive and expert power B. reward and specialist power C. legitimate and reward power D. expert and referent power
J & J Co offers a "subscription" for baby toys to be delivered every two months from the birth of a child. Payment must be made within two weeks of delivery. The Markham family accepted the J & J plan when their son, Timmy, was born. When Timmy was four months old, one J & J toy arrived smashed to pieces. Markham:
A) can treat the whole contract as breached and refuse to pay for past installments as well as future installments. B) can reject the installment and cancel the contract immediately. C) can reject the installment and refuse to pay if J & J cannot cure it. D) cannot reject the installment since it is part of a series.