Al Bondie is driving his car home from the garage where its brakes were repaired and hits Clare Davies, a pedestrian. Clare sues Al. Al thinks that his brakes were faulty and he wants to sue the mechanic
What is the name of the legal process by which Al can make a claim against his mechanic in the same lawsuit initiated by Clare?
A) statement of claim
B) statement of defence
C) third party claim
D) garnishment
E) counterclaim
C
Business
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A company decides to ignore a very small error in its inventory balance. This is an example of the application of the ________
A) conservatism B) materiality concept C) disclosure principle D) consistency principle
Business
A firm's planned purchases for a given month are $30,000 and its purchase commitments are $7,000 . If its merchandise costs as a percent of selling price are .75; its open-to-buy at cost is $17,250
Indicate whether the statement is true or false
Business