Providing quick service is an important aspect of quality customer service
Indicate whether this statement is true or false.
Answer: TRUE
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Which of the following is an application of conservatism?
A) reporting inventory at the lower of cost or market B) reporting only material amounts in the financial statements C) reporting all relevant information in the financial statements D) using the same depreciation method from period to period
Adjusting the accounts is a technique used to accomplish accrual accounting
Indicate whether the statement is true or false
A business in a developing nation that has operated locally for many years has recently grown to a level that it is now making international deals. What is to be expected of that business?
a. change to adopt the commons standards of the three Abrahamic faiths b. mimic the operational standards of much bigger corporations c. remain true to its informal ways for doing business even in the international marketplace d. change to adopt international standards for business
Anticipatory breach:
a. is addressed by U.C.C. Section 2-207, not by the common law b. requires that a valid contract will not be enforced by the courts because of a subsequent illegality c. discharges the duties of the non-breaching party and allows that party to sue for damages from the repudiation d. is prohibited by the U.C.C., but allowed by the common law e. none of the other choices