The parol evidence rule applies only to integrated contracts, meaning those in which the parties have assented to the written agreement as the statement of the complete agreement between them
a. True
b. False
Indicate whether the statement is true or false
True
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In 2007 the U.S. SEC adopted new rules that permit _____ that list and trade their securities in the United States to apply IFRS in their financial reports filed with the SEC without any reconciliation to U.S. GAAP
a. U.S. SEC registrants b. non-U.S. SEC registrants c. EU SEC registrants d. Chinese SEC registrants e. all of the above
In order to understand a firm's current and anticipated financial position and needs, we must first:
A) understand overall economic conditions. B) understand the industry in which it operates. C) understand the strengths and weaknesses of the firm itself. D) All of t he above.
Select the correct statement regarding break-even point analysis.
A. An increase in fixed costs causes the break-even point to increase. B. The break-even point in sales dollars equals total fixed costs divided by contribution margin per unit. C. A decrease in the variable cost per unit causes the break-even point in units to increase. D. An increase in contribution margin per unit causes the break-even point in units to increase.
Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is estimated to be 5 years, or 300,000 units of product, with a $15,000 salvage value. During its first year, the machine produces 64,500 units of product. Determine the machines' first year depreciation under the straight-line method.
A) $27,000. B) $29,025. C) $25,800. D) $23,779. E) $24,000.