Answer:
Two categories of expenses in merchandising companies are c. cost of goods sold and operating expenses
Explanation:
Merchandising Companies will incur direct expenses related to their trading activities in relation to each of their sales and these are known as cost of goods sold. Cost of Goods Sold is an expense in the Trading Account.
However, the Merchandising Company will also incur other indirect expenses to maintain its trading and are not directly related to each sale of their merchandise. For example the cost of Administration Work and Depreciation of its equipment. These are known as Operating Expenses. Operating Expenses are expenses in the Profit and loss Account
Answer: Yes it does.
Explanation:
The Statute of Frauds holds that there are some contracts including real estate contracts that need to be in written form and then signed to be binding. Some of those contracts include, contracts of sale of goods worth more than $500 as well as contracts that cannot be completed within a year.
We can agree that the trees and top soil are definitely over $500 in value and so this falls under the Statute.
The main bone of contention here however, is probably if the Electronic signature that Hardell used to signed the memorandum entitles the aggrement to legal protection under the Statue of Frauds which requires a signature.
The answer is yes.
The United States Electronic Signatures in Global and National Commerce Act is a federal law. A main provision of this Act is to give electronic signatures the same significance as handwritten signatures. This law is meant to apply to wherever US Federal law applies including states, and US territories. States generally have the right to either accept this law or follow a similar one called the Uniform Electronic Transactions Act (‘UETA’) which was passed in 1999 and bestows upon Electronic contracts, similar status as paper contracts.
The Electronic signature used by Hardell therefore falls under the Statute of Frauds.
