Which Term Is Not Required in a Writing in Order

question 35

Multiple Choice

Which term is not required in a writing in order to satisfy the statute of frauds?

• A) language indicating that a sale or contract to sell has been made
• B) the price of the goods
• C) the quantity of goods involved in the transaction
• D) the signature of the defendant

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Definitions:

Total Assets

The sum of all resources owned by a company, valued in financial terms, and listed on the balance sheet.

Total Expenses

The sum of all costs and expenses incurred by a business or individual in a specific period.

Prepaid Rent Expense

An account that represents rent payments made in advance for a future period; classified as a current asset on the balance sheet.

Total Liabilities

The sum of all financial obligations a company owes to external parties, which can include loans, accounts payable, and bonds payable.