Most franchise contracts are typical "contracts of adhesion."
Answer the following statement true (T) or false (F)
True
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Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. Use only one letter for each element. You do not need to enter amounts.Increase = IDecrease = DNo Effect = NJack Grimes, who had held 12% of Preston Company's outstanding common stock, agreed to purchase another 8% of Preston Company's outstanding common stock from Todd Barbour, another major stockholder of Preston's. Indicate the effect of this event on Preston's financial statements.AssetsLiabilitiesEquityRevenuesExpensesNetIncomeCash Flow? ?????
What will be an ideal response?
A bond is issued at premium ________
A) when a bond's stated interest rate is equal to the market interest rate B) when a bond's stated interest rate is less than the effective interest rate C) when a bond's stated interest rate is less than the market interest rate D) when a bond's stated interest rate is higher than the market interest rate
The costly Motorola global satellite telecom project known as Iridium provides a useful illustration of the ________. Even though problems with the project existed during the lengthy development process, Motorola refused to pull the plug. Only after investing 5 billion USD and years of effort was the project abandoned.
A. lack of an exit champion B. overdependence on the product champion C. lack of a product champion D. overdependence on the exit champion
Drew Corporation purchased machinery costing $825,000 in 2018. Drew paid $5,000 for installation and testing of the machinery. Under a special election, Drew expensed $500,000 of the cost of the machinery in 2018. Drew also deducted depreciation on the machinery of $46,443 in 2018 and $79,593 in 2019. Drew's repair and maintenance costs on the machinery were $10,200 in 2018 and $13,300 in 2019. What is Drew Corporation's adjusted basis in the machinery at the end of 2019?
A. $175,468 B. $198,964 C. $203,964 D. $325,000 E. $698,964