Answer:
It is True. the option (a) is correct
Explanation:
Solution
Given that:
The statue of fraud can be refereed to as the requirements for specific kind of contract that should be in writing and signed by the parties involved with sufficient evidence. the main idea is to stop fraud and other types of injury.
The vital aspect of statute of frauds include the following:
- It applies to particular types of contract and they are six classification It include contracts for an interest for the sale of land, contracts that need to be performed in more than a year, contracts about someone else's debt presumed by other, contract in which marriage is a deliberation, contracts for good sold value more than $500 and promises by executors or administrators.
- The motive of the contract is that it formalize the concurrence between the parties so that it can be thought seriously.
- The statute of frauds avert fraudulent conduct of one party to another.
Answer:
Sixteenth (16th)
Explanation:
The sixteenth amendment in the United States Constitution provides the right to Congress whereby, it can levy the taxes in the form of income tax on the amount of income, without segregating it in any manner, that is in no manner it is apportioned in relation to any number or weightage of the population concerned of the state.
This amendment thereby provides for straight tax as discussed in the example.
Answer:
Option D, T Bonds and Eurodollars
, is the right answer.
Explanation:
Option D is correct because the future contract or interest rate future is the instruments that pay or offer the interest. However, the contract is an agreement on which buyer and seller are agreed for the future delivery of any interest that the asset bears. However, this contract gives the offer to the buyer and seller to lock the price of the asset that bears the interest in a future date. Moreover, this instrument is not a market traded instrument, these are the instrument used for a cash settlement. Thus, the same can be seen with option D. thus it is correct.
Answer:
A. $302,000
Explanation:
The computation of the net income under accrual basis accounting is shown below:
= Billed in revenues on credit - incurred expenses
= $496,000 - $194,000
= $302,000
The prepaid expenses and the received amount would not be considered in the computation part. Hence, ignored it
Only revenues on credit and incurred expenses are considered in the computation part. No other item values would be taken.
Answer:C...fixed factor
Explanation:it is C because if something is fixed, then it shoouldnt change. kind of like a dog.
