In brainstorming, how should the group handle a seemingly outlandish idea?
A) Loudly discourage its originator.
B) Welcome it.
C) Ask for clarification.
D) Ask that it be put in writing.
Answer: B
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The firm Meek & Co., CPAs, was engaged by Reed, the president of Sulk Corp, to prepare its federal and state tax returns by March 15, Year 2, for the fiscal year ended December 31, Year 1. Meek's engagement and its fee of $20,000 were approved by Sulk's board of directors. Meek did not deliver the returns until April 15, Year 2, because Sulk did not provide Meek with the necessary information to complete the service. Sulk refuses to pay Meek. If Meek sues Sulk, Meek will
A. Prevail based on the contract. B. Prevail based on quasi-contract. C. Lose, because it breached the contract. D. Lose, because the March 15 deadline was a condition precedent to Sulk's performance.
Net fixed assets for CEE in 2013 were ________. (See Table 3.1)
A) $45,484 B) $48,975 C) $54,511 D) $69,341