Operating leverage may be defined as the potential use of fixed operating costs to magnify the effects of changes in sales on a firm's earnings before interest and taxes (EBIT)
Indicate whether the statement is true or false
TRUE
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Under the Truth in Lending Act, creditors have a week to notify consumers of their right to cancel the transaction.
Answer the following statement true (T) or false (F)
The Giga Company produces tablet computers. The following information is provided:
Required:Classify each of the company's costs as a period cost (general, selling, and administrative cost) or as a direct or indirect product cost. Enter the dollar amount of the cost in the appropriate column. After entering all amounts, calculate the total general, selling, and administrative cost, the total direct product cost, and the total indirect product cost.
What will be an ideal response?
Contra Proferentem means:
A) where there is an ambiguity in a contract term, that term is interpreted against the one who did not draft the contract B) the contract is against public policy C) where there is an ambiguity in a contract term, that term is interpreted against the one who drafted the contract D) the courts prefer a contract to be in writing, not done orally E) the contract is for an illegal purpose
Mary and Remaldi Co have dealt with each other for many years. Mary's Boutique orders 100 assorted lipsticks at $2.00 each from Remaldi Co Remaldi sends back a confirmation letter with an additional, nonmaterial term. There is:
a. no contract, but a counteroffer. b. a contract with the additional term unless Mary objects. c. a contract with the additional term only if Mary agrees. d. a contract without the additional term.