The going-concern assumption presumes that a business will continue operating instead of being closed or sold.
Answer the following statement true (T) or false (F)
True
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On October 29, 1989, Alex agrees to paint Georgia's house during the Thanksgiving week for $4,000 in exchange for Georgia's promise to pay him $4,000 in cash immediately upon completion of the work. Which of the following statements is true of this case?
A. Alex could back out of the deal on October 31 without legal liability to Georgia because she has not given any consideration for Alex's promise to do the work until she pays him. B. Georgia could hire another painter on October 31 without legal liability to Alex because until he has painted the house, he has not given any consideration for Georgia's promise to hire him. C. Alex could back out of the deal on October 29 without legal liability if he could prove that $4,000 was inadequate consideration to paint Georgia's house. D. Both parties are bound on October 29 because each has given consideration for the other's promise.
What do Ivy Lee's proponents cite as one of his biggest contributions?
A) He counseled clients that positive public relations begins with performance. B) He advocated for Barnum's "public-be-fooled" approach. C) He advocated for Vanderbilt's "public-be-damned" philosophy. D) He was known as the "father of spin."
If industry sales are 2000 and the top four firms have sales of 170, 140,100 and 80, respectively what will be the four-firm concentration ratio?
A) 49 percent B) 24.5 percent C) 490 percent D) 2.45 percent
What is the name of the national organization that provides considerable resources and educational information for all state courts?
a. The National Center for State Courts b. The Judicial Conference for State Courts c. The Judicial Center for State Courts d. The National Conference for State Courts