Answer:
C) The court will apply the predominant-purpose test to determine whether the predominant purpose of the contract was the sale of goods in which case the UCC would apply.
Explanation:
From the case it is clear that the contract happens between Beau and the Manager of XYZ is of selling the carpet only. The service on the other hand, is not a department of UCC. The service contracts are department of common law whereas sales of goods law is applied to UCC or Uniform Commercial Code. So, except this option, all other options are false.
Answer:
$700 (not given in the options)
Explanation:
When the policy is purchased with a payment made in advance, the entries recorded are
Debit prepaid insurance $8,400
Credit Cash account $8,400
After the first month, the expense incurred is
= 1/12 × $8,400
= $700
Entries then required
Debit Insurance expense $700
Credit Prepaid Insurance $700
<span>being frequently exposed to drugs would be one of the characteristics.
The exposure could be caused by living on the same neighborhood where the drugs syndicates focus their operation on, Or simply by socializing (hanging out) who use the illict drugs as a form of recreation, which will give us a peer pressure to bow down and follow the habbit.
</span>
Answer:
There is a violation of Uniform State Law because the agent has made an offer to sell an unregistered non-exempt security in that State
Explanation:
The Uniform State Securities Law is also called blue sky law, and they are put in place at the State level to prevent fraud and to enforce security regulation.
This law was set up to handle investments that do not occur at the federal level. These are out of the purview of the SEC so states handle them.
In the given scenario the agent is trying to make a non exempt security exempt by buying it from the client.
This is an attempt to sell the securities to investors through fraudulent means and it is a violation of Uniform State Law
Answer: $495,000 User “Parrain” is the person who solved this question
Explanation: ALL costs that went into the DIRECT acquisition of the asset as well as COSTS TO SET IT UP for use by the firm should be accounted for in the amount recorded. In this case that would mean that the cost price, the closing fees and the modification fees all need to be accounted in the final amount. That would be $400,000 + $35,000 + $60,000= $495,000$495,000 should be recorded as the building's cost.
