A homeowner orally contracted to buy some custom made parts that the homeowner will use to
build a retaining wall in the homeowner's back yard. The contract price for these materials was
$2,000.
The buyer refused to take delivery even though they were conforming. The seller is
unable to sell these parts to anyone else because they were individually designed for the
homeowner. In a lawsuit against the homeowner by the seller of the parts:
A) The UCC would not apply because these goods will become real property when installed
by the homeowner.
B) This contract is not enforceable because the price is $500 or more.
C) This contract is fully enforceable even though it is not in writing.
D) This contract is not enforceable, assuming that the homeowner is not a merchant in the
materials purchased.
C
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Which of the following is true relating to audit work paper documentation?
A) It serves as the basis of review for audit supervisors to determine if sufficient, appropriate evidence has been gathered. B) It should not include copies of any client-generated documents. C) It is generally examined and utilized by the client after the audit is completed. D) It must be destroyed once the audit is complete and the opinion is rendered.
Audit assurance is the complement of planned detection risk, that is, one minus planned detection risk
Indicate whether the statement is true or false