On may 1 ralph offers to cure and smoke sam’s pork, and promises to keep the offer open until june 1. on may 3 ralph mails sam a letter revoking the offer. sam receives and reads the letter on may 5 and responds to ralph on may 6. ralph’s revocation of the offer became effective on:
a. no date because the offer is irrevocable.
b. may 6.
c. may 5.
d. may 3.

Balance sheet the assets of dallas & associates consist entirely of current assets and net plant and equipment. the firm has total assets of $2 5 million and net plant and equipment equals $2 million. it has notes payable of $150,000, long-term debt of $750,000, and total common equity of $1 5 million. the firm does have accounts payable and accruals on its balance sheet. the firm only finances with debt and common equity, so it has no preferred stock on its balance sheet. a. what is the company's total debt? b. what is the amount of total liabilities and equity that appears on the firm's balance sheet? c. what is the balance of current assets on the firm's balance sheet? d. what is the balance of current liabilities on the firm's balance sheet? e. what is the amount of accounts payable and accruals on its balance sheet? [hint: consider this as a single line item on the firm's balance sheet.] f. what is the firm's net working capital? g. what is the firm's net operating working capital? h. what is the explanation for the difference in your answers to parts f and g?

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak

Describe what fixed costs and marginal costs mean to a company.