Tom has agreed to the terms of a contract that obligates him to paint Dorothy's house within thirty days. Before he began painting, Dorothy's house was destroyed by a tornado
Which of the following statements is true about Tom's contract obligations?
A) The contract remains valid, and Tom must paint Dorothy's next residence.
B) The contract remains valid, but Tom must wait a reasonable time to allow Dorothy to rescind.
C) The contract is voidable as its object is illegal.
D) The contract is discharged by impossibility of performance.
D
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Only the asset, liabilities, and owner's equity accounts will be listed on the trial balance of the business
Indicate whether the statement is true or false
The U.S. Congress enacts a new federal statute that imposes liability on businesses emitting significant amounts of a certain pollutant into the environment. This statute applies
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Rachel is single and has a college degree in finance. She is employed as a loan officer at a bank; her yearly AGI approximates $50,000 . During the year, she enrolled in a weekend MBA program and incurred the following nonreimbursed expenses: $4,100 (tuition), $300 (books), $200 (other school supplies), and $200 (transportation to and from campus). Disregarding the 2%-of-AGI limitation, as to the
MBA program, Rachel has a: a. Deduction for and deduction from AGI of $0. b. Deduction for AGI of $4,000 and deduction from AGI of $800. c. Deduction for AGI of $4,000 and deduction from AGI of $700. d. Deduction for AGI of $4,100 and deduction from AGI of $700. e. None of these.