A contract in which a party assumes a secondary obligation must be in writing to be enforceable
Indicate whether the statement is true or false
True
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Glick Company purchased oil rights on July 1, Year 1 for $2,400,000. A total of 200,000 barrels of oil are expected to be extracted over the assets life, and 30,000 barrels are extracted and sold in Year 1. Which of the following correctly summarizes the effect of the Year 1 depletion expense on the elements of the financial statements?
A. A decrease in stockholders' equity of $200,000 B. An increase in stockholders' equity of $400,000 C. A decrease in assets of $360,000 D. A decrease in assets of $300,000
Francie drives into Gage's Auto Service and asks Hong, a Gage's employee, to replace a tire onFrancie's car. After Hong replaces the tire, but before Francie pays for it, any contract between Francie and Gage's is
a. executed. b. executory. c. void. d. unenforceable.
Rank the order of standard deviation of returns from highest to lowest for the following classes of U.S. securities for the time period 1926 - 2011
A) small stocks, large stocks, 30-year Treasury bonds, and 90-day T-bills B) large stocks, small stocks, 30-year Treasury bonds, and 90-day T-bills C) 90 -day T-bills, large stocks, 30-year Treasury bonds, small stocks D) 30-year Treasury bonds, large stocks, small stocks, 90-day T-bills
As with a court decision, the doctrine of res judicata applies to disputes that are arbitrated
a. True b. False Indicate whether the statement is true or false