The ________ states that an executory contract which cannot be performed by its own terms within one year of its formation must be in writing
A) parol evidence rule
B) common law of contracts
C) merger clause
D) one-year rule
D
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Coco Services exchanged an asset with fair value of $12,000 and a cost of $24,000 (now 40% depreciated) for a nonmonetary asset with a fair value of $12,000. In addition, Coco received $2,000 boot. In the entry to record this exchange, Coco should record
A) a $400 loss. B) a $400 gain. C) no gain or loss. D) a $2,400 loss.
Which type of planning is in accord with the principles of participative management?
a. top-down b. bottom-up c. short range d. long range
Judge Julia decides that the precedent for the case she is hearing is no longer correct due to technological changes. She overturns the precedent when she decides the case. It is most likely that her case will
a. go unnoticed by the public. b. be thrown out of court. c. receive a great deal of publicity. d. be ignored by the media.
Which of the following is NOT an appropriate measure of capacity?
A) square yards of carpet installed per hour B) number of cars assembled per month C) thickness of laminate on a desktop D) printed pages per minute