James and MaryElise enter into a contract. James agrees to mow MaryElise's yard every week for the summer. MaryElise is
A) theobligor
B) theobligee.
C) theassignee.
D) theassignor.
B
You might also like to view...
Shuttle Master Airlines has leased an aircraft from Streamline Aircraft Company. The annual payments are $1,000,000 and the life of the lease is 18 years. It is estimated that the useful life of the aircraft is 20 years. How would Shuttle Master Airlines record the acquisition of the aircraft? The effective rate of interest is 9%
a. The company would not record the aircraft as an asset but would record rent expense of $1,000,000 per year for 18 years. b. The company would not record the aircraft as an asset but would record rent expense of $900,000 per year for 20 years. c. The aircraft would be recorded as an asset with a cost of $8,756,000. d. The aircraft would be recorded as an asset with a cost of $9,129,000.
Independence Discuss what audit independence is and why it is important to the audit firm and the profession. What are some major threats to audit firm independence and what are some of the steps that audit firms and the profession have taken in addressing those threats?
A data mart is
a. another name for a data warehouse. b. a database that provides data to an organization's customers. c. an enterprise resource planning system. d. a data warehouse created for a single function or department.
Conditions favoring the choice of using a sample over a census include all of the following EXCEPT:
A) small budget. B) time available is short. C) population size is large. D) variance in the characteristic of interest is low. E) cost of sampling error is high.