A trust can only be created by a written document
Indicate whether the statement is true or false
False
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In a perpetual inventory system, multiple performance obligations ________.
A) represent one distinct performance obligation B) may require the creation of an asset account, Unearned Revenue C) result in revenue being recorded when the separate performance obligations are identified because there is a binding contact D) require the company to allocate the transaction price to each performance obligation
A brand mantra should be ________
A) original, ambiguous, and straightforward B) unique, complex, and inspirational C) communicative, simple, and inspirational D) competitive, sensitive, and simple E) unique, sensitive, and explanatory
A job shop would be most likely to hold which type of inventory?
a. Finished goods b. Component parts c. Raw materials d. Work-in-process
Felicia, an elderly woman, does not speak or read English well. Felicia is a recent immigrant to this country. A dishonest immigration officer tells Felicia to sign several documents as being necessary to maintain her legal alien status. Unknown to Felicia, she signs a promissory note. The immigration officer thereafter sells the note to Neighborhood Bank, a holder in due course, who goes after
Felicia for payment of the note. Felicia's defense to the Neighborhood Bank is: a. fraud in the inducement; a real defense. b. fraud in the execution; a real defense. c. unauthorized completion; a personal defense. d. breach of contract; a real defense.