Herb Was Interviewed for a Job on Wednesday

question 35

Essay

Herb was interviewed for a job on Wednesday.The employer orally offered Herb a job right on the spot.Herb orally agreed to start working the following Monday,to be employed from that Monday,for one year thereafter.Three weeks after starting the job Herb was fired without cause and replaced by the employer's friend.Will Herb be successful in an action brought against the employer for breach of contract? Explain why or why not.

Acquire the ability to calculate stockholders' equity, total liabilities, and total assets after adjusting entries.

Learn the impacts of not making necessary adjusting entries on net income, assets, liabilities, and stockholders' equity.

Understand how to initially record deferrals and their subsequent adjustment.

Know the effects of adjusting entries on pretax income and net income.

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Definitions:

Valences

In psychology, refers to the intrinsic attractiveness or averseness of an event, object, or situation.

Technical Orientation

The focus on or preference for dealing with technical aspects of a job, project, or field of study.

Praised

Recognition or expression of approval for someone's work or achievements.

Recognition

Acknowledgment or appreciation of an individual's achievements or contributions, often used as a motivational tool in organizational settings.