Hill told Tompkins, "Sell Martin a suit of clothes, and charge it to me." Tompkins sold the suit to Martin and sent the bill to Hill. Hill refused to pay, pleading the statute of frauds as his defense. Is Hill liable?
Yes. Hill assumed primary responsibility for the debt and is therefore liable.
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Gowda Inc., a calendar year taxpayer, purchased $1,496,000 of equipment on March 23. This was Gowda's only purchase of depreciable property for the year. If the equipment has a 7-year recovery period, refer to Table 7.2 and compute Gowda's first and second-year MACRS depreciation. (Disregard the Section 179 deduction and bonus depreciation in making your calculation.)
A. First year $106,889; second year $340,193 B. First year $106,889; second year $366,370 C. First year $213,778; second year $183,185 D. None of the above
The discount rate used in a net present value analysis is the ________.
A) rate of inflation B) rate of interest earned on a savings account C) required rate of return or the hurdle rate D) rate of interest charged for debt financing of an investment
Identify four sources of rating errors.
What will be an ideal response?
Most industrial products are distributed through which of the following channels?
a. producer to industrial user b. producer to wholesaler to consumer c. producer to wholesaler to industrial user d. producer to wholesaler to retailer to industrial user e. producer to agent to wholesaler to retailer to industrial user