Question Mode Multiple Choice Question Estimates relating to long-term contracts Multiple choice question. are determined only at the beginning of the contract period. remain unchanged until any related uncertainty is resolved. may be revised only if a overall loss is indicated. must be periodically updated.

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.)]

Acompany recorded a check in its accounting records as $87. however, the check was actually written for $78 and it cleared the bank as $78. what adjustment is needed to the personal statement? a. decrease by $9 b. increase by $9 c. decrease by $18 d. increase by $9

Oliver's company is planning the launch of their hybrid cars. the company has included "never-before-seen" product benefits in the hybrid cars. which type of advertising should oliver's company use for the new cars?