Negligence in tort may be imposed only if a party acted improperly. A failure to act cannot itself lead to a tort
a. True
b. False
Indicate whether the statement is true or false
False
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Tests designed to detect purchases made before the end of the year that have been recorded in the subsequent year most likely would provide assurance about management's assertion of:
A. accuracy. B. cutoff. C. occurrence. D. classification.
Expected future revenues that differ among the alternatives under consideration are often referred to as:
A. Alternative revenues. B. Differential revenues. C. Relative revenues. D. Preferential revenues.
________ financing does not require any collateral.
A. Commercial bank loan B. Character loan C. Line of credit D. Equity
Lisa mailed an offer to sell cotton to Jeff who sent an acceptance. However, Jeff made changes in the time and place of delivery. Under the UCC's Article 2:
a. acceptance cannot change the terms of the offer without being considered either a rejection or a counteroffer b. acceptance is valid only if this is a requirements contract c. alterations are not valid under the UCC so the parties need to look to the common law of contracts for a solution d. acceptance is valid only if this is an option contract e. none of the other choices