Which statement best describes "agreement" as it relates to contracts?
A. The intent of the contract must be legally acceptable to both parties.
B. All parties must be capable of entering into a contract.
C. Each party must offer something of value.
D. One party accepts the exact terms of the other party's offer.
Answer: D. One party accepts the exact terms of the other party's offer.
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If a company fails to make an adjusting entry to estimate uncollectible accounts, then this error:
Select one: A. Understates owners' equity B. Overstates net income C. Overstates expenses D. Understates assets
Each of the following would tend to weaken the Efficient Market Hypothesis EXCEPT
A) There is publicly available information that Boeing Aircraft has procured a contract to build 25 planes for the U.S. Government and the price of Boeing quickly goes up. B) ACG, Inc. performed well for the past six months, but they just lost a major distribution contract, but the price of ACG stock continues to go up. C) Louisville Slugger, Inc., gets a contract to supply bats for Little League play, a contract it never had before, and stock price remains stable. D) Muguet Company consistently underperforms the market in October, but outperforms the market in May.