Answer:
a. It relates to fraudulent contracts
Explanation:
The statue of frauds refers to the contract which have legal existence and should be in writing so that the parties to the contract should be bounded to the contract and fulfill their conditions mentioned in the question
It purpose is to detect
It mainly uses for MY LEGS which means that
M - Marriage, Y -Year, L - Land, E - Executor, G -Guarantor, and S -Sale
The conditions are as follows
1. It should be in writing
2. Simple to understand
3. Agreed price and lawful consideration
4. Signature of parties to the contract
so according to the given situation, the first option is correct
What are the two most important variables for determining resource allocation?
Answer:
Location and Time
<span>The permanent income is the factor most needed to understand how much can be bought. This figure gives a relative basis for figuring out the average amount of goods and services a person can purchase over a given time frame. The larger the permanent income, the larger the basket of goods and services available to them.</span>
Answer:
Dr Cash 105,600
Dr Compensation Expense 14,400
Cr Common Stock 10,000
Cr Paid-In Capital – Excess of Par 110,000
Explanation:
KL Corp Journal entry
Dr Cash 105,600
Dr Compensation Expense 14,400 (10,000*12*12%)
Cr Common Stock 10,000 (10,000*1)
Cr Paid-In Capital – Excess of Par 110,000
(10,000*(12-1))