Corporate managers should accept investment projects that maximize profits in the short run
because of the time value of money.
Indicate whether the statement is true or false
FALSE
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The approved payroll disbursement voucher is used to:
a. record time worked b. record hours worked on specific jobs c. prepare and disburse employee paychecks d. prepare a payroll transfer check
A firm's prospective customers generally ________
A) purchase a firm's products without first obtaining information B) count among an organization's stakeholders C) do not respond well to consumer generated marketing D) tend to be more brand conscious than existing customers E) are an abstract concept of little importance to sales
When a mortgagor cannot make the payments for his or her mortgage, the mortgagee will seek a ________
A) garnishment order of the court for the mortgagor's wages B) court-ordered sale of the mortgaged property C) mechanic's lien on the mortgaged property D) loan guarantee from the mortgagor
In the Lesher v. Strid case, the court held that:
a. a representation is material if it is likely to influence a reasonable person. b. for a misrepresentation to be actionable, it must be one of fact rather than of opinion. c. a mutual mistake of fact renders a contract voidable by the adversely affected party if the mistake is so fundamental that it frustrates the purpose of the contract. d. the contract's "as is" clause expressly excluded reliance on extrinsic representations such as the defendant's representation about the four-acre water rights.