The more conditions to which a promise is subject, the more content the promise has
Indicate whether the statement is true or false
false
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Which assertion is most closely related to the determination of the adequacy of the allowance for doubtful accounts?
a. Existence b. Valuation c. Rights and Obligations d. Presentation and Disclosure
Copper Company engaged in the following transactions during April Performed services for cash $215,000 Performed services on credit 168,000 Purchased office supplies on account 56,000 Paid salaries in cash 29,000 Collected on account 42,000 Paid on account 38,000 What is the amount of cash still to be paid?
A) $18,000 B) $47,000 C) $94,000 D) $52,000
While signing a contract, one of the parties misinterpreted a legal clause. Neither of the parties is a legal professional. Which of the following statements holds well in this scenario?
A) The party who misinterpreted the law is actionable for fraud. B) The party who misinterpreted the law may rescind the contract. C) The party who misinterpreted the law is not actionable for fraud. D) The contract is declared unenforceable as the law has been misinterpreted.
Which of the following costs should not be recorded as an expense?
A. Insurance on factory building B. Product shipping costs C. Product advertising D. Sales commissions