Which of the following does the one-year rule state?
A) Every contract in writing is subject to yearly renewal.
B) The terms of a written contract can be modified within a year of its formation.
C) A contract that cannot be performed on its own terms within a year should be in writing.
D) Valid contracts cannot be rescinded by either party until a year after their formation.
C
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Briefly differentiate between personal power and position power
What will be an ideal response?
If overhead cost driver rates are calculated monthly, distortions might occur because of:
A) rental costs paid monthly. B) property tax payments made in July and December. C) routine, monthly preventive maintenance costs that benefit future months. D) property tax payments made in July and December, and routine, monthly preventative maintenance costs that benefit future months.