A gratuitous assignment is generally valid and enforceable
Indicate whether the statement is true or false
True
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Differentiate between a purchase requisition and a purchase order
A delivery truck was purchased for $32,000 two years ago. It has a carrying value of $24,000 and an estimated residual value of $4,000 . Assuming the use of straight-line depreciation, the truck's estimated useful life must have been
a. three and one-half years. b. seven years. c. 14 years. d. impossible to determine from the facts given.
Fashions, Inc has 12 shareholders. There is no shareholder agreement concerning the board of directors. The company is subject to the Model Act. How many directors is Fashions, Inc required to have?
a. None. b. One. c. Two. d. Five.
In many states it is illegal to lend money to help someone gamble
a. True b. False Indicate whether the statement is true or false