The UCC statutes of limitations cannot be reduced by the contracting parties
Indicate whether the statement is true or false
FALSE
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As per the Statute of Frauds provisions, all contracts for the sale of goods costing $500 or more must be in writing
Indicate whether the statement is true or false
A company can be viewed by different customers as _______________.
a. Only of high quality b. Only of low quality c. Only as being of neither high nor low quality d. Either high or low quality (depending on the customer)
Llewelyn Company paid the amount due on a purchase of merchandise on account. Llewelyn uses the perpetual inventory system. Which of the following reflects the effect of the payment on the financial statements? Asset=Liab.+Stk.EquityRev.-Exp.=Net Inc.Stmt ofCash FlowsA.-=-+NANA-NA=NA- OAB.-=-+NANA-+=-- OAC.+ -=NA+NANA-NA=NA- IAD.+ -=NA+NANA-NA=NA- OA
A. Option A B. Option B C. Option C D. Option D
The Montana Supreme Court rules against Natural Grocery Mart in a case against One Stop 2 Shop Stores, Inc Natural Grocery files an appeal with the United States Supreme Court. The Court does not hear the case. This
a. is a decision on the merits that has value as a precedent. b. indicates agreement with the Montana court's decision. c. means nothing. d. means that the Montana court's decision is the law in Montana.