All of the following statements regarding long-term liabilities are true except?
A. Liabilities not expected to be paid within the longer of one year or the company's operating cycle are reported as long-term liabilities.
B. Long-term liabilities can be reported on the balance sheet in a single total or in multiple categories.
C. A single long-term liability can be divided between current and noncurrent sections on the balance sheet.
D. Long-term liabilities include long-term notes payable, warranty liabilities, lease liabilities, and bonds payable.
E. Liabilities that do not have a fixed due date, but are payable on demand, are reported as long-term liabilities.
Answer: E
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According to the text, as a salesperson, you earn the right to a prospect's time and serious attention by:
A. expressing a sincere desire to solve the buyer's problem. B. being on time for your appointments. C. maintaining eye contact with the prospect. D. dressing conservatively for sales calls and presentations. E. ignoring sales presentation interruptions.
Acme Restaurants offered to buy 1000 serving trays from American Tray Company. The written offer provides for 1000 trays at $10 per tray, to be delivered May 1 . The offer has no other provisions. American Tray sent a written acceptance. The acceptance stated that if any controversies arise under this contract, the dispute will be submitted to arbitration. Acme does not object to this provision
Both parties are merchants. Which of the following best describes this situation? a. No contract exists. The purported acceptance contains additional terms, so it is a counteroffer, which has not been accepted. b. No contract exists if the additional terms are construed to be material terms. An arbitration clause is material. c. A contract exists. If the additional terms are construed to be material, they are not part of the contract. If the additional terms are not material, they are part of the contract. d. A contract exists, but the additional terms are not part of the contract.
In the United States, the time period for the right to exclude others from the use of a patented technology is ________ from the filing date of a patent application.
A. 25 years B. 20 years C. 25 months D. 15 months
Bodily contact that is harmful or offensive can give rise to the tort of:
A) assault. B) battery. C) defamation. D) appropriation.