Roscoe Braun, who lives in Cleveland, receives a mailing from Florida from the SwampLand and Reclamation Project. It states that the Brauns can purchase one-acre sites as part of a newly planned development located in Leon County, Florida. The Brauns
contact the company and are given a purchase agreement but no additional information. They sign the purchase agreement and send it back. Then, a week later they decide they would prefer to winter in either New Zealand or Australia. Can the Brauns get out of the contract?
The Interstate Land Sales Full Disclosure Act permits the Brauns to revoke the contract within two years from the date of signing because they were not given a property report prior to signing the contract.
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Newsman Co made the following errors in counting its year-end physical inventories: 2012 .................................. $ 60,000 overstatement 2013 .................................. 108,000 understatement 2014 .................................. 90,000 overstatement As a result of the above undetected errors, 2014 income was
a. understated by $18,000. b. overstated by $198,000. c. overstated by $18,000. d. understated by $198,000.
If a payer bank pays the altered amount on an altered check, it can recover the altered amount minus the original tenor from the party who presented the altered check for payment
Indicate whether the statement is true or false
How are intra-entity inventory transfers treated on the consolidation worksheet and how are they reflected in a consolidated statement of cash flows?
What will be an ideal response?
Getting followers to understand and accept change takes communication, repetition, and clarification.
a. true b. false