Which of the following factors is most likely to be covered by the social environment of business?
A. Population size
B. Bank interest rates
C. Virtual traffic
D. Federal tax laws
Answer: A
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Optimal order quantities exist when the curves for the order-processing cost per unit and inventory-carrying cost per unit ________
A) are collinear B) are diagonal to each other C) intersect D) are parallel to each other E) equal zero
The auditor will send a standard bank confirmation to which of the following?
a. Financial institutions of customers using the lockbox. b. Financial institutions for which the client has a balance greater than $0 at the end of the year. c. Financial institutions with which the client has transacted during the year. d. Financial institutions used by significant shareholders.
One of the important questions the corporation must address in assessing the effectiveness of its venturing initiatives is that of the sustainability of its basis of competitive advantage.
Answer the following statement true (T) or false (F)
McCann Construction purchased a poured concrete form from Advance Concrete Forms, Inc McCann purchased the concrete form by placing a phone call to Advance in Madison, Wisconsin. Advance delivered the concrete form with an invoice stating the terms of
the sale required payment within 30 days and a 1 1/2 % interest per month finance charge would be charged on accounts over 30 days. When McCann failed to pay the invoice on time, interest was charged according to this rate. Later, McCann refused to pay the accumulated interest charge, claiming there was not a meeting of the minds regarding the finance charge in any conversation prior to the sale. The trial court concluded that the finance charge was in fact an additional term added by Advance when it accepted McCann's purchase order. Discuss Uniform Commercial Code Section 2-207 in general and with regard to this situation. Does McCann owe the interest accrued?