A(n) ________ contract is a contract entered into by way of an exchange of promises between the parties.
A. bilateral
B. unilateral
C. express
D. auction
Answer: A
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Indicate whether the statement is true or false
When, and only when, is an in-kind donation tax deductible?
a. The recipient is government certified as being in need. b. The donation is made through a 501(c)(3) organization. c. The donation is made through the organization’s own proprietary foundation. d. The recipient receives the donation directly, with no third party involved.
The discipline in which matters of right and wrong are systematically examined is known as:
a. Morality b. Ethics c. Intuition d. A and B e. B and C
Which of the following is an example of the coordination and communication function of the budgeting process?
A) A budget demands integrated input from different business units and functions. B) Employees are motivated to achieve the goals set by the budget. C) Each department acts independently because the department manager will be evaluated on actual departmental results. D) A budget adjustment in one department will have no effect on other departments.