Oxley contracts to buy a pizza oven from Restaurant Supplies Warehouse (RSW) for $2,500, but RSW fails to deliver. Oxley buys the appliance else-where for $3,500. Oxley's measure of damages is
A) $1,000

If inventory levels are stable or increasing, an argument which is not an advantage of the LIFO method as compared to FIFO is

a. income taxes tend to be reduced in periods of rising prices. b. cost of goods sold tends to be stated at approximately current cost on the income statement. c. cost assignments typically parallel the physical flow of goods. d. income tends to be smoothed as prices change over time.

Partnerships forged through informational networks in a virtual organization are based on electronic contracts to speed the linkups and:

A. keep the lawyers away. B. maintain professionalism. C. maintain confidentiality. D. prevent excessive bandwidth consumption.