Stock not assigned a value per share by the corporate charter, allowing it to be issued at any price, is called ________.
What will be an ideal response?
no-par stock
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A debtor may rescind a contract under the Truth in Lending Act:
A. within 30 days after the purchase on credit. B. only if the debtor's home is used as collateral. C. by way of oral notification to the creditor. D. only in the instance of a first mortgage on a home.
In year one, McClintock Co. acquired a truck that cost $75,500 with an estimated $14,000 salvage value and 4 year estimated useful life. Depreciation in the first year was $15,375. McClintock had the following transactions involving plant assets during Year 2. Unless otherwise indicated, all transactions were for cash. Jan. 5Paid $5,000 to put a new engine in the truck that is expected to make the truck run more efficiently and increase the truck's useful life by one year. The salvage value did not change.Mar. 1Paid $2,000 to replace a broken tailgate that was damaged when a heavy carton was inadvertently dropped on it.Dec. 31Recorded straight-line depreciation on the truck.Prepare the general journal entries to record these transactions.
What will be an ideal response?
The ________ holds that a state has to respond to a suit brought against it before the ICJ only to the extent to which the state bringing the suit has also accepted the jurisdiction of this court
A. vested rights doctrine B. rule of reciprocity C. public trust doctrine D. choice of law clause
Courts will not allow the rescission of a contract due to a unilateral mistake
a. True b. False Indicate whether the statement is true or false