On May 2,1972,Mix,CPA,entered into an Oral Contract with Dell to Provide

question 63

Multiple Choice

On May 2,1972,Mix,CPA,entered into an oral contract with Dell to provide certain accounting services to Dell.The contract was fully performed by both parties in 1974.On April 25,1988,Dell commenced a breach of contract action against Mix claiming that Mix had improperly performed the accounting services.Mix's best defense to the action would likely be:

• A) Parol evidence rule
• B) Statute of limitations
• C) Statute of frauds
• D) Lack of consideration

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Definitions:

Decimal Places

The amount of digits found following the decimal point in a numerical value.

Experimental Growth Model

A theoretical construct that uses empirical data to model how quantities grow over time, often nonlinearly.

Population

The entire group of individuals or items that is the subject of a statistical study.

Compounded Monthly

Refers to the process of applying interest to a principal sum so that each month's interest earnings also earn interest in subsequent months.