In Scenario 11-1, Lori can expect to spend approximately ______ and ______ conducting her research project.

A) one to six months; $1,000
B) seven to eight months; $1,500
C) one to six months; $1,500
D) seven to eight months; $1,000

Twig is fifteen. In most states, for contractual purposes, Twig would be considered a minor until she is

A) sixteen.
B) seventeen.
C) eighteen.
D) twenty-one.

Barge Company and Cove Harbor dispute the meaning of their contract. Unable to agree on settlement, the parties prepare for trial. To obtain information, they engage in discovery. This includes gaining access to each other's witnesses and other types of evidence by

A) subterfuge and similar methods.
B) improper requests and related tactics.
C) voir dire and a writ of certiorari .
D) depositions and other devices.

A realized gain or loss is reported on the income statement when an equity investment account is adjusted to reflect changes in fair value.

(Advanced analysis) The equation for the demand curve in the below diagram:

A) is P = 70 - Q.
B) is P = 35 - 2Q.
C) is P = 35 - .5Q.
D) cannot be determined from the information given.

Which of the following items used to produce a product is a capital item?

A) Raw materials
B) Land
C) Machinery
D) Labor