You verbally agree to buy a house for $250,000 . When the contract is prepared, the price is accidentally typed in as $25,000 rather than $250,000, but no one notices it until after you and the seller sign the document. At that point, you claim you only have to pay $25,000 and you claim that was the price you had agreed to originally. The court will say you are:
a. correct; under the Statute of Frauds, written documents control, not oral statements
b. correct; under the Statute of Frauds, written documents for real estate control the deal c. incorrect; the consideration ($25,000) is insufficient given the value of the house
d. incorrect; $25,000 was obviously a mistake and the price goes to $250,000 e. incorrect; you are guilty of perjury and will go to prison
d
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Financial statements include assets listed at
a. all of these b. their fair value c. their historical cost d. their market value
The credit portion of the adjusting entry to enter the estimate for uncollectible accounts is made directly to a specific receivable account
Indicate whether the statement is true or false
________ for a product or service results from the demand for another product or service
A) Cause-and-effect demand B) Derived demand C) Fixed demand D) Fluctuating demand E) Elastic demand
Answer the following statement(s) true (T) or false (F)
1. Leaders high on initiating structure generally reduce the job satisfaction of their followers. 2. The meta-analysis also found that consideration had its weakest effects in the college setting; interestingly, this was also the setting where initiating structure was most important. 3. The correlation for consideration with leadership is considerably larger than is the correlation for initiating structure and leadership. 4. Margaret Thatcher (1995) entitled her autobiography, The Servant’s Path.