An out-of-court settlement in exchange for dropping a lawsuit is an example of consideration
Indicate whether the statement is true or false
TRUE
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Routing refers to the travel pattern the salesperson uses in working his territory.
Answer the following statement true (T) or false (F)
When a new partner is admitted by making an investment of assets in the partnership and the new partner has to pay a premium for admission, a bonus is divided among the old partners' capital accounts
Indicate whether the statement is true or false
Montana Company reported the following operating results for Year 1 and Year 2:Year 1Amount% of SalesSales$ 800,000?Cost of goods sold___440,000?Gross margin360,000?Operating expenses___225,000?Income before taxes135,000?Income taxes____40,000?Net income$ 95,000?Year 2Amount% of SalesSales$ 960,000?Cost of goods sold___635,000?Gross margin325,000?Operating expenses___275,000?Income before taxes50,000?Income taxes____15,000?Net income$ 35,000?Required:Express each income statement component for each year as a percentage of sales. Round your answer to one decimal place (i.e. 22.5%)
What will be an ideal response?
Orchid and Peony enter into a contract for the sale of Orchid's textbook at the end of the fall semester for which Peony agrees to pay Orchid $75. Peony wants to transfer her right to payment for the book to Queenie. This transfer
a. is prohibited. b. may be oral or written. c. must be implied. d. must be in writing.