Criticisms of PAT Include

question 51

Multiple Choice

Criticisms of PAT include:

• A) It does not provide a means of improving accounting practice.
• B) It is not value-free as it is claimed.
• C) It is scientifically flawed since its hypotheses are frequently not supported by research.
• D) all of the given answers.

Differentiate between formal and informal (simple) contracts.

Comprehend the role and outcome of third-party beneficiary contracts through case studies.

Recognize the importance of "consideration" and its role in forming a valid contract.

Understand the implications of unilateral contracts and the necessity of performance for contract formation.

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Definitions:

National Labor Relations Act

A 1935 U.S. law that protects the rights of employees and employers, encourages collective bargaining, and curtails certain private sector labor and management practices.

Enforcement Arm

Refers to the means or mechanism by which laws, regulations, or policies are implemented and ensured compliance with, often involving legal or coercive action.

National Labor Relations Board

A U.S. federal agency tasked with enforcing labor laws in relation to collective bargaining and unfair labor practices.

Federal Writers Project

A New Deal program established in 1935 to provide employment for historians, teachers, writers, librarians, and other white-collar workers during the Great Depression.