Which of the following apply to both sureties and guarantors?
A) If the surety or guarantor pays the debt, that person has no recourse against the primary
debtor.
B) It is an arrangement in which the surety or guarantor agrees to pay the debt of another
under certain circumstances.
C) The surety or guarantor becomes secondarily liable on the debt.
D) The obligation arises only if the debt cannot be collected from the primary debtor.
B
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The revenue recognition principle involves two factors: paid and incurred
a. True b. False Indicate whether the statement is true or false
The equitable doctrine of ________ allows some parties to recover under oral contracts that the statute of frauds would have ordinarily rendered unenforceable.
A. promissory estoppel B. proprietary estoppel C. estoppel by representation of fact D. estoppel by record
What is the primary danger of implementing “stretch goals”?
a. Employees may behave unethically to reach them. b. Employees may become demoralized while trying to reach them. c. They can encourage complacency because they are too easy to reach. d. They take the place of incremental goals.
PITI is a one-time, initial cost of home ownership
Indicate whether this statement is true or false.