A contract into which parties enter but in which one or both of the parties can choose not to perform their contractual obligations is said to involve ________ promises.
A. option
B. executory
C. illusory
D. implied-in-fact
Answer: C
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Each of the following is a method by which to allocate joint costs except:
a. Chemical or engineering analysis. b. Relative sales value. c. Relative weight, volume, or linear measure. d. Relative advertising costs.
Regarding employee stock options, which of the following is/are true?
a. Firms compute a fair-value-based measure of employee stock options on the date of the grant using an option-pricing model that incorporates information about the current market price, the exercise price, the expected time between grant and exercise, the expected volatility of the stock, the expected dividends, and the risk-free interest rate. b. Total compensation cost is the number of options the firm expects to vest times the value per option. c. Firms amortize total compensation cost over the requisite service period, which is the expected period of benefit. d. The requisite service period is usually the period between the grant date and the vesting date. e. all of the above
Heidi is writing a report about ways to reduce the time it takes to process a customer return and is determining why the topic is worth investigating at this time. Heidi is considering the ________ of the report
A) scope B) limitations C) significance D) purpose
What is a condition? Give an example of each of the following types of conditions: condition precedent, condition concurrent, conditions subsequent