Which of the following constitutes an exception to the Statute of Frauds requirement that a contract be in writing??
A) An original promise from the promisor rather than a promise to pay the debt or another
B) An executor contracting to pay the debts of a deceased person's estate from his or her personal funds
C) An agreement the terms of which cannot be performed within one year from the time it is made
D) An agreement to sell land
A
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Which of the following presumptions does not relate to the appropriateness of audit evidence?
A. The independent auditor's direct personal knowledge, obtained through observation and inspection, is more persuasive than information obtained indirectly. B. An auditor's opinion, to be economically useful, is formed within a reasonable time and based on evidence obtained at a reasonable cost. C. Evidence obtained from independent sources outside the entity is more reliable than evidence secured solely within the entity. D. The more effective the internal control system, the more assurance it provides about the accounting data and financial statements.
What is the cash ratio as of December 31, 2019, for Phillips Company? (Round your answer to two decimal places.)
Phillips Company had the following financial data for the year ended December 31, 2019.
A) 0.28
B) 0.37
C) 0.45
D) 0.82
The procurement cycle occurs at the manufacturer/supplier interface
Indicate whether the statement is true or false.
The notion that actual capital markets, such as the NYSE, are fairly priced is called the:
A) efficient market Hypothesis (EMH). B) law of one price (LOP). C) open markets theorem (OMT). D) laissez-faire axiom. E) monopoly pricing theorem (MPT).