sam, the owner of a small company, learned that a competitor was planning to spend $150,000 on promotion in the next financial year. as soon as he learned this, sam called his finance manager and said, "i want to spend $150,000 on promotion next year." in this case, which method of promotional budgeting does sam use

Aldrich and co. sold goods to donovan on credit. the amount owed grew steadily, and finally aldrich refused to sell any more to donovan unless donovan signed a promissory note for the amount due. donovan did not want to but signed the note because he had no money and needed more goods. when aldrich brought an action to enforce the note, donovan claimed that the note was not binding because it had been obtained by economic duress. was he correct? [aldrich & co. v. donovan, 778 p.2d 397 (mont.)]

Assume the perpetual inventory method is used. 1) the company purchased $12,500 of merchandise on account under terms 2/10, n/30. 2) the company returned $1,200 of merchandise to the supplier before payment was made. 3) the liability was paid within the discount period. 4) all of the merchandise purchased was sold for $18,800 cash. what effect will the return of merchandise to the supplier have on the accounting equation?

Richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.