The normal balance of an account is the side (debit or credit) used to decrease the account
Indicate whether the statement is true or false
False
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A company that pays its bills each month for its rent, heat, interest, and salaries regardless of its output is said to be incurring what type of costs?
What will be an ideal response?
Under the Statutory Close Corporation Supplement to the MBCA, a close corporation must have bylaws on file with the office of the secretary of state or some other public office
a. True b. False Indicate whether the statement is true or false
Uri and Victor enter into a contract by which Uri promises to deliver business cards, advertising banners, and other marketing materials to Victor. Uri later transfers his duty under the contract to Wren. Uri is A) a delegator
B) a delegatee. C) an assignor. D) an assignee.
Sal Simpson and Jeff Gibbons entered into a contract for Gibbons to sell his property to Simpson. The closing date was to be January 13, 2015. They also opened an escrow for closing and put the closing date as January 13, 2015. The contract provided that if the closing did not occur by January 13, 2013, either side could terminate the agreement. The property did not close on January 13, 2015, so
Gibbons sent a letter to Simpson canceling the transaction. The escrow agent received all the necessary funds and documents by January 14, 2015 and went ahead and closed on the sale. Gibbons wants his property back. Which of the following is correct? A)?Gibbons must convey title to the property because all requirements for closing were met. B)?Gibbons is entitled to have the title restored to him because the contract time for closing controlled the transaction. C)?Simpson lost the right to purchase the property by having escrow instructions. D)?Gibbons cannot stop the actions of an escrow company once the escrow is established.