Optional clause jurisdiction differs from contentious jurisdiction in that, optional clause jurisdiction is ________
A. the requirement that a tribunal must have power over the parties before it may hear a dispute
B. the power of the ICJ to give opinions about issues of international law at the request of the United Nations or one of its specialized agencies
C. the power of a court to hear a matter that involves a dispute between two or more parties
D. a unilateral grant of jurisdiction by a state to the ICJ that allows the Court to resolve disputes involving that state
D
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A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $110,000
During the year, Sales Revenue amounted to $80,000, Sales Returns and Allowances were $2,000, Sales Discounts were $4,000, Cost of Goods Sold was $40,000, and all other expenses totaled $12,000. The company declared and paid $25,000 as dividends. The closing balance of Retained Earnings would be ________. A) $111,000 B) $107,000 C) $98,000 D) $110,000
A broker who is hired by an owner to sell his property must reveal all significant and material information to the principal. Which of the following would be considered material information and must be revealed:
A: The new lender will require the buyer to maintain an impound account; B: The agent's knowledge that a better offer to purchase is imminent; C: The prospective buyer is of oriental descent; D: None of the above.