In the phrase "parol evidence rule," the term "parol" means:
A) Oral
B) Early release from prison
C) Admissible at trial
D) Written
E) Prior Statement
A
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The rights and duties concept refers to which of the following?
a. Ethics are of little importance as long as the action taken is useful to some b. Some actions are simply right, without any regard to the consequences c. An ethical act creates the greatest good for the greatest number of people d. The utility of an action is unimportant
Suppose someone offered you your choice of two equally risky annuities, each paying $5,000 per year for 5 years. One is an annuity due, while the other is a regular (or deferred) annuity
If you are a rational wealth maximizing investor, which annuity would you choose? A) The annuity due B) The deferred annuity C) Either one, because as the problem is set up, they have the same present value. D) Without information about the appropriate interest rate, we cannot find the value of the two annuities, hence we cannot tell which is better. E) The annuity due; however, if the payments on both were doubled to $10,000, the deferred annuity would be preferred.
Sonier Corporation's most recent balance sheet appears below:Comparative Balance Sheet Ending BalanceBeginning BalanceAssets: Cash and cash equivalents$26 $27 Accounts receivable 45 49 Inventory 40 43 Property, plant, and equipment 474 380 Less accumulated depreciation 269 244 Total assets$ 316 $ 255 Liabilities and stockholders' equity: Accounts payable$42 $35 Bonds payable 245 270 Common stock 71 70 Retained earnings (42) (120)Total liabilities and stockholders' equity$ 316 $ 255 The net income for the year was $97. Cash dividends were $19. The company did not issue any bonds or repurchase any of its common stock during the year. The net cash provided by (used in) financing activities for the year was:
A. ($19) B. $1 C. ($25) D. ($43)
Adam Smith argued that the creation of wealth is a proper concern of government.
Answer the following statement true (T) or false (F)