________ are state laws that require certain types of contracts to be in writing.
A. Uniform Computer Information Transactions Act
B. Electronic Communications Privacy Act
C. Uniform Get It In Writing Statutes
D. Statutes of Frauds
Answer: D
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Answer the following statements true (T) or false (F)
A sale and leaseback occurs when the owner of an asset sells it and enters into a lease agreement to lease the asset back.
A lockbox is a postal address maintained by a third party-typically a bank-which is used solely for the purpose of collecting checks.
Answer the following statement true (T) or false (F)
If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting period, the financial statements prepared at that time would show:
A. Assets and equity both understated. B. Assets overstated and equity understated. C. Assets, net income, and equity overstated. D. Assets overstated, net income understated, and equity overstated. E. Assets, net income, and equity understated.
What type of discount is given to a business purchaser for performing activities such as transporting, storing, and selling?
A. Quantity B. Cash C. Geographic D. Service E. Trade