Regarding consideration, an act occurs when a person
A. complies with the law.
B. fulfills an obligation under an existing contract.
C. does something not legally required.
D. All of these are correct.
Answer: C
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Eunice Jean exchanges land held for investment located in Rolla, MO, for land to be held for investment located near Madrid, Spain. Her basis for the land given up is $450,000 and the fair market value of the land received is $500,000. Eunice Jean also receives cash of $45,000. ? a.What is Eunice Jean’s recognized gain?b.What is her basis for the land received?
What will be an ideal response?
An accountant is required to comply with the provisions of Statements on Standards for Accounting and Review Services when:I.Typing client-prepared financial statements, without modification, as an accommodation to a client.II.Preparing standard monthly journal entries for depreciation and expiration of prepaid expenses.
A. I only. B. II only. C. Both I and II. D. Neither I nor II.
One important factor that a project manager must acknowledge when recruiting project members is the management structure being used to complete the project.
Answer the following statement true (T) or false (F)
The term passed by value implies that a pointer to the value in the actual parameter is created instead of copying the value from the actual parameter to the formal parameter.
Answer the following statement true (T) or false (F)