Fresh Air Filter & Purification Company and Big Box Commercial Storage Company enter into a long-term lease for a warehouse. To be enforceable, the lease must be in writing if the amount of the rent payment is
A. more than $500.
B. more than $5,000.
C. more than $50,000.
D. any price.
Answer: D
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When a company earns revenue before it receives cash, the company should always increase the ________ account
a. Goodwill b. Cash c. Receivable d. Common Stock
Imagination Corporation uses residual income to evaluate the performance of its divisions. Imagination's minimum required rate of return is 11%. In April, the Commercial Products Division had average operating assets of $100,000 and net operating income of $9,400. What was the Commercial Products Division's residual income in April?
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Indicate whether the statement is true or false