Answer the following statements true (T) or false (F)

There is a conflict between timeliness and the other aspects of relevance.


ANSWER: T

Business

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The UCC statute of limitations for an action for breach of any written or oral sales or lease

contract must commence within two years after the course of action accrues. Indicate whether the statement is true or false

Business

Francine incorporated her sole proprietorship by transferring inventory, a building, and land to the corporation in return for 100 percent of the corporation's stock. The property transferred to the corporation had the following fair market values and tax-adjusted bases. FMV Adjusted basisInventory$30,000 $10,000Building 130,000  80,000Land 50,000  100,000Total$210,000 $190,000  The corporation also assumed a mortgage of $60,000 attached to the building and land. The fair market value of the corporation's stock received in the exchange was $150,000.a. What amount of gain or loss does Francine realize on the transfer of the property to her corporation?b. What amount of gain or loss does Francine recognize on the transfer of the property to her corporation?c. What is

Francine's basis in the stock she receives in her corporation? What will be an ideal response?

Business

A trademark is a name or symbol registered with the:

a. U. S. Patent and Trademark Office b. Securities and Exchange Commission c. Federal Bureau of Investigation d. Interstate Commerce Commission e. Secretary of State

Business

The key element in disparate treatment is discriminatory intent. In this context, that means that:

a. the decision-maker made the decision with intent to harm b. the decision-maker made the decision with intent to break the law c. the decision-maker made the decision in whole or in part based on the protected class characteristic of the employee d. none of these

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