Foreign trade zones were created in:

Using the following information, the journal entry to record the January 1 transaction will be:

A. Average total stockholders' equity B. Year-end common stockholders' equity C. Average common stockholders' equity D. Year-end total stockholders' equity E. None of the above

A buyer and seller enter into a written contract for the sale of some specialty steel to be used by

the buyer in the manufacture of some appliances. The contract specified all the terms of the contract except the price. Which of the following is true? A) A reasonable price will be implied. B) There would be a contract except that the price cannot be implied in this contract because it is not a contract for the sale of a commodity with an easily determined market price. C) A price will be implied only if the contract called for the price to be determined at a later date. D) There is no contract because there is no meeting of the minds as to a material term.