Answer:
True
Explanation:
Contracts should be in writing because this guarantees that all the terms of the agreement are documented and the responsabilities of each party are stated. Also, contracts that involve the sale of goods with a value higher than $500 have to be in writing to be enforceable. So, according to this and considering that the total cost of the lighting is $5,000, it is true that the contract needs to be in writing.
Well, insurance or taxes! :D
The answer to the first one would be higher costs and the answer to the second would be more i hope this is right and helps you
Revaluation is used to adjust the book value of a fixed asset to its current market value. ... If a revaluation results in a decrease in the carrying amount of a fixed asset, recognize the decrease in profit or loss
