The parol evidence rule holds that oral testimony by one party that contradicts a written contract cannot be accepted as evidence in court
a. True
b. False
Indicate whether the statement is true or false
True
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Identify the first step in any electronic evidence collection process
a. Seizure of the device b. Automated search of the device c. Clone the device d. Do a manual reconnaissance
An organization's hurdle rate should be at least equal to the organization's cost of capital
Indicate whether the statement is true or false
Sprinter Airlines (Sprinter) needs additional aircraft to expand internationally, and it could borrow the needed funds and purchase the aircraft. This arrangement places additional debt on the balance sheet. Instead, Sprinter signs an lease agreement in which it agrees to pay the owner of the aircraft certain amounts each year for 12 years. The aircraft has an estimated service life of 18 years
Sprinter paints its name on the aircraft, uses the aircraft in operations, and makes the required lease payments. Which of the following is not true? a. Sprinter receives benefits when it uses the aircraft, not when it initially signs the lease. b. Sprinter has future benefits, not past or current benefits. c. Sprinter obtains financing for its flight equipment without showing a liability on the balance sheet. d. Sprinter has entered into an operating lease that is an executory contract. e. Sprinter has entered into an financing lease that is recorded as an asset purchase and financing transaction.
Robin and Jeff own an unincorporated hardware store. They determine their salaries at the end of the year by using the amount required to reduce the net income of the hardware store to $0. Based on this policy, Robin and Jeff each receive a total salary of $125,000. This is paid as follows: $8,000 per month and $29,000 on December 31. Determine the amount of the salary deduction.
What will be an ideal response?