In a novation, the delegator is discharged and the third party becomes directly bound upon his promise to the obligee
Indicate whether the statement is true or false
True
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Answer the following statements true (T) or false (F)
1. The halo effect occurs only with positive traits. 2. Leah has hired two new employees for her team, Jake and Margaret. Jake is outgoing and attractive, while Margaret is very bright but seems quiet and unsure of herself. Leah immediately expects Jake to outperform Margaret at the job. Jake is likely experiencing the halo effect. 3. The activity of inferring causes for observed behavior is called causal attribution. 4. In the fundamental attribution bias, people tend to take more personal responsibility for success than for failure.
Kirk Corporation owns 25 percent of the voting stock of Allen Corporation and accounts for the investment using the equity method. Allen reports a net loss of $40,000. Kirk Corporation's entry to record its share of loss is:
A) Cash 10,000 Investment in Allen Corporation 10,000 B) Loss on Investments 40,000Investment in Allen Corporation 40,000 C) Loss, Allen Corporation Investment 10,000 Investment in Allen Corporation 10,000 D) Cash 10,000 Loss, Allen Corporation Investment 10,000
The term sojourners refers to
a. people who are sent to work in foreign countries but return early. b. people who go through training programs before they enter another country. c. people who visit or reside temporarily in another country. d. groups of people who commiserate about the difficulty of doing business in Asia.
The cost method of accounting does not enable a retailer to determine gross profit until _____
a. a physical inventory is undertaken b. taxes are determined c. costs are determined d. retail prices are determined