A contract has an open price term if the agreement:
a. says nothing as to price.
b. provides that the parties shall agree later as to the price and they fail to so agree.
c. fixes the price in terms of some agreed market or other standard, as set by a third person or agency, and the price is not so set.
d. All of these.
e. None of these.
d
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Which of the following best describes a category of new product that already exists but the firm is just entering it?
A) classically innovative products B) new category entries C) line extensions D) improved products
Fraud in the essence is an example of a real defense that can be used as a reason against payment of a negotiable instrument to any holder, including a holder in due course.
Answer the following statement true (T) or false (F)
Portian Merchandisers has purchased merchandise on account and paid $450 for freight in. Give the journal entry for freight paid. (Assume a perpetual inventory system.)
What will be an ideal response
A homemade-ice cream shop owner has noticed that, often, potential customers will stop outside the store, assess the wait in line, and then pass by. The shop has a(n):
A) infinite customer population with balking customers. B) infinite customer population with reneging customers. C) finite customer population with balking customers. D) finite customer population with reneging customers.