Exceeding both actual and apparent authority can have dire consequences; an individual may be held directly liable by the supplier or other third party
a. True
b. False
Indicate whether the statement is true or false
True
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On January 3, 2018, Roberts Company purchased 30% of the 100,000 shares of common stock of Thomas Corporation, paying $1,500,000. There was no goodwill or other cost allocation associated with the investment. Roberts has significant influence over Thomas. During 2018, Thomas reported net income of $300,000 and paid dividends of $100,000. On January 4, 2019, Roberts sold 15,000 shares for $800,000.What is the appropriate journal entry to record the sale of the 15,000 shares? A)Cash800,000 Investment in Thomas 800,000B)Cash800,000 Investment in Thomas 780,000 Gain on sale of investment 20,000C)Cash800,000 Loss on investment12,000 Investment in Thomas 812,000D)Cash800,000 Investment in Thomas 790,000 Gain on sale of investment 10,000E)Cash800,000 Loss on sale
of investment15,000 Investment in Thomas 815,000 A. C Above. B. E Above. C. D Above. D. A Above. E. B Above.
Activities are the cost objects of the first stage of ABC.
Answer the following statement true (T) or false (F)
Solomon breaches his contract with Neal to purchase the 500 pairs of socks he had promised to buy. Neal is able to sell the 500 pairs to Renny for a much lower amount. Neal then sues Solomon for damages. Neal will be able to recover
a. the amount in the liquidated damages clause. b. the difference between Solomon's contract price and the amount paid by Renny. c. Solomon's contract price. d. an amount which depends on whether Solomon intentionally breached because he found cheaper socks somewhere else.
A change in market conditions causes the market price of a bond to change because of changes in the bond's:
A. coupon rate. B. current (interest) yield. C. yield to maturity. D. principal value. E. maturity value.