Equitable remedies are available if there has been a breach of contract that cannot be adequately
compensated by a legal remedy.
Indicate whether the statement is true or false
TRUE
Business
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A firm is selling an existing asset for $5,000. The asset, when purchased, cost $10,000, was being depreciated under MACRS using a five-year recovery period and has been depreciated for four full years
If the assumed tax rate is 40 percent on ordinary income and capital gains, the tax effect of this transaction is ________. A) $0 tax liability B) $1,320 tax liability C) $1,160 tax liability D) $2,000 tax benefit
Business
Spartacus Inc., has sales of $4,500,000, net income of $250,000, assets worth $3,700,000, and total common stockholder equity of $2,500,000. The ROE for Spartacus is:
A) 5.56%. B) 6.76%. C) 10.00%. D) 55.56%.
Business