Explain the parol evidence rule
What will be an ideal response?
The parol evidence rules states thatif the parties have a written agreement that isintended to be a complete expression of theiragreement, written or oral evidence of prior or
contemporaneous agreements is not admissible evidence. Many contracts contain a provision stating that "this contract is intended to be a full and complete statement of the
agreement of the parties." This type of clause is referred to as an integration clause.
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You have just been appointed to lead a very active campus club on their goal to raise US$10,000. You have inherited a four-person fundraising team that has been in place for a year. If you want to apply the situational leadership approach, what should your first and second actions be?
What will be an ideal response?
Pretax accounting income is $100,000 and the tax rate is 40%. Included in income is a $20,000 fine levied for pollution violations and other infractions during the year. In the reconciliation of the statutory and effective rate (beginning with the statutory rate), which one of the following amounts would appear?
a. (.08) b. .08 c. (.20) d. (.04)
Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 20%, salary allowances of $34,000 and $26,000 respectively, and the remainder equally. How much of the net income of $100,000 is allocated to Xavier?
A) $49,000 B) $51,000 C) $50,000 D) $56,000
Customer orientation, coordinated effort, value driven, and goal orientation are all parts of the retailing concept
Indicate whether the statement is true or false