Robert and Bella entered into a bilateral contract. If they agree to a rescission of the contract while it is executory, there is a lack of consideration for the rescission

A corporation is a legal entity separate and distinct from its owners.

a. true b. false

Profit under absorption costing may differ from profit determined under variable costing. How is this difference calculated?

a. Change in the quantity of all units in inventory times the relevant fixed costs per unit. b. Change in the quantity of all units produced times the relevant fixed costs per unit. c. Change in the quantity of all units in inventory times the relevant variable cost per unit. d. Change in the quantity of all units produced times the relevant variable cost per unit.