Burt, a mentally impaired person, is asked by carl to sign a piece of paper that carl says is an autograph book. in fact, the document is a promissory note. if later sued by an hdc, burt's best defense would be

Davis Hardware Company uses a perpetual inventory system. How should Davis record the sale of inventory costing $620 for $960 on account? A. Inventory 620 Cost of Goods Sold 620 Sales Revenue 960 Accounts Receivable 960 B.

Susan, a movie theater manager, recently implemented a policy stating that workers who call in sick on Friday or Saturday nights will have their free movie privileges revoked for one month.

Most goods and services produced at home a. and most goods and services produced illegally are included in GDP. b. are included in GDP while most goods and services produced illegally are excluded from GDP. c.

Dartford Company reported the following financial data for one of its divisions for the year; average investment center total assets of $3,500,000; investment center income $610,000; a target income of 12% of average invested assets.

If a seller includes an express warranty in the written sales contract, any disclaimer is invalid. a. Trueb. False

8. Problems and Applications Q8 There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: Consumers' Willingness to Pay Charles: $50 Gilberto: $35 Juanita: $25

When a company buys equipment for $150,000 and pays for one third in cash and the other two thirds is financed by a note payable, which of the following are the effects on the accounting equation? A. Total assets decrease $50,000. B.

Which is true about investments and risk? Low-risk investments have a high return over the long run. High-risk investments usually fail. Safe investments are always somewhat profitable. Every investment carries some degree of risk.

Which of the following statements is true of ABC systems? A. ABC system is least suited for service companies. B. ABC system is simpler compared to traditional systems. C. ABC system will always result in higher product costs. D.

You purchase a put option on Swiss francs for a premium of $.02, with an exercise price of $.61. The option will not be exercised until the expiration date, if at all. If the spot rate on the expiration date is $.58, your net profit per unit is: