In most contracts, promises of performance are not expressly conditioned or qualified. Instead, they are absolute promises. a. True b. False 2. Match the term with the correct definition. Performance The termination of an obligation under a contract Condition The fulfillment of one's duties under a contract Discharge A situation that will trigger an obligation under a contract or terminate an existing obligation

Why entrepreneurs start businesses. a) monopolistic competition b) perfect competition c) sole proprietorship d) profit motive

Which of the following statements regarding the southern economy at the end of the nineteenth century is accurate? the south was producing as much cotton as it had before the civil war.

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.