All of the following are basic principles of GATT except:
A) commitment to normal trade relations
B) elimination of import quotas.
C) non-reciprocal tariff increases.
D) non-discrimination against imported goods.
C
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Indicate whether the statement is true or false.c
Steve owns 64% and Mark owns 36% of a partnership business. They purchase equipment with a suggested value of $9600. The current market value of the equipment at the time of purchase was $9100. At the time of the balance sheet preparation, depreciation of $160 was recorded. Based on the information provided, which of the following is TRUE of the partnership?
A) The Equipment account will be debited at $9100 on the date of purchase. B) The Equipment account will be debited at $8940 on the date of purchase. C) The Equipment account will be debited at $9600 on the date of purchase. D) The Equipment account will be debited at $9440 on the date of purchase.
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Indicate whether the statement is true or false
Orin enters into a contract with Natalie. Later, Orin is adjudged mentally incompetent and Moseby is appointed Orin's guardian. Lila, Orin's daughter, attempts to void Orin's contract with Natalie on the grounds of Orin's incompetency. The contract is?
A) enforceable if Orin does not attempt to disaffirm it. ?B) enforceable if Natalie is also incompetent C) enforceable if Moseby knew of the contract when he was appointed. D) void.