Digital Storage, Inc, offers to sell provide cloud-computing services to Entrepreneur Enterprises, Inc, but mistakenly transposes some of the digits in the price so that $15,400 appears in the offer as $14,500. Entrepreneur Enterprisesaccepts the written offer. Entrepreneur Enterprises'best argument in favor of enforcement of the contract is that
a. a bilateral mistake does not afford relief from a contract.
b. a mistake of value does not afford relief from a contract.
c. a unilateral mistake does not afford relief from a contract.
d. the price was below the prices of comparable devices.
C
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The most important (in terms of dollar value) type of foreign exchange transaction by U.S. banks is the
a. spot transaction. b. forward transaction. c. swap transaction. d. option transaction.
Government agencies such as the FBI, FDIC, IRS, or various health agencies publish fraud statistics from time to time. Which of the following observations concerning such statistics is true?
a. Generally, their statistics are complete. b. Such information is rarely used. c. They provide only those statistics related to their jurisdiction. d. They usually provide a total picture in the areas for which they have responsibility.
Matthew has just had a foster child placed in his care. He has requested unpaid leave to care for the child. Matthew will be able to take this leave and return to his original job (or an equivalent one) under ______.
A. Social Security B. the Affordable Care Act C. the Family Medical Leave Act D. Medicare
Employees earn vacation pay at a rate of one day per month. The company estimated and must expense $1,500 of accrued vacation benefits for the year. Which of the following is the necessary year-end adjusting entry to record accrued vacation benefits?
A. Debit Vacation Benefits Expense $1,500; credit Vacation Benefits Payable $1,500. B. Debit Prepaid Benefits Payable $1,500; credit Vacation Benefits Expense $1,500. C. Debit Payroll Tax Expense $1,500; credit Payroll Taxes Payable $1,500. D. Debit Prepaid Vacation Benefits $1,500; credit Vacation Benefits Payable $1,500. E. Debit Vacation Benefits Expense $1,500; credit Prepaid Vacation $1,500.