Which of the Following Requires Certain Types of Contracts to Be

question 7

Multiple Choice

Which of the following requires certain types of contracts to be in writing in order to be enforceable,such as contracts that take more than a year to complete or that involve the sale of goods worth $500 or more?

• A)statute of frauds
• B)statue of limitations
• C)parole evidence rule
• D)statute of authenticity

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Definitions:

Debt

Money owed by one party to another, typically used as a means of borrowing to finance an activity or purchase.

Financial Leverage

The use of borrowed funds to finance the acquisition of assets, with the expectation that the income or capital gain from the assets will exceed the cost of borrowing.

Return on Equity

A measure of a corporation's profitability that reveals how much profit a company generates with the money shareholders have invested.

Earnings per Share

A financial metric calculated by dividing a company's net income by the number of outstanding shares, indicating how much profit a company makes per share of stock.