Jacob has been quite ill. When three of his neighbors come to visit one day, he tells them that he is dying and that he wants them to witness his oral will. In some states, he can validly dispose of his personal property by his witnessed, oral statements
Indicate whether the statement is true or false
True
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The chief criticism of Milton Friedman’s philosophy suggests that businesses following his advice would often ______.
a. pay more in taxes than is due b. weaken their relationship with shareholders c. fail to compete effectively in the marketplace d. deliberately act unethically in the pursuit of profits
Which of the following principals require an exchange transaction to be reported as significant noncash transaction either in a separate schedule or in a footnote to the financial statements?
a. Conservatism b. Economic entity c. Matching d. Full disclosure
Why have checks and balances been built into the U.S. Constitution?
A) to keep a check on the number and frequency of amendments made to the Constitution B) to ensure that the judiciary is not biased or corrupt C) to prevent any one of the three branches of the government from becoming too powerful D) to ensure that people of all races and ethnicities are uniformly represented
Hardware chains such as Ace and True Value are losing market share to rivals such as Lowe's and Home Depot in spite of them using a focus strategy. Why?
A. Achieving parity on costs for specialty retailers is difficult. B. Their costs are the same as those of the national chains. C. They have too broad a product line. D. They have equivalent purchasing power as the national chains.