Duress is a defense to the enforcement of a contract, but not a ground for rescission of a contract
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following is not true regarding the treatment of multiyear pledges, according to FASB Statement 116?
A. They should be reported net of an allowance for estimated uncollectibles. B. At the end of each accounting period, the difference between the new and previously recorded present value is recorded as interest revenue. C. They should be recorded as temporarily restricted. D. They are recorded at the present value of future collections.
Alphonse Company manufactures staplers. The budgeted sales price is $14.00 per stapler, the variable costs are $3.00 per stapler, and budgeted fixed costs are $10,000. What is the budgeted operating income for 4300 staplers?
A) $47,300 B) $37,300 C) $60,200 D) $12,900
Explain the reasoning behind the popularity of the values-based culture.
What will be an ideal response?
U.S. GAAP requires the disclosure of the acquisition of a building by assuming a mortgage obligation
a. as both a financing activity and an operating activity. b. as both an operating activity and an investing activity. c. as both an investing activity and a financing activity. d. in a separate schedule or note, but does not appear in the statement of cash flows as an operating activity, investing activity or a financing activity. e. as both an investing activity and a exchange activity.