Examlex
Which of the following items is included in the journal entry if a company sells equipment at a price less than its book value?
Secondary Obligation
An obligation that arises only after a primary obligation has not been fulfilled, often seen in guarantor or surety arrangements.
Statute of Frauds
A legal principle that requires certain contracts to be in writing and signed by the parties to be enforceable.
Prenuptial Agreements
Agreements made by a couple before they marry concerning the ownership of their respective assets should the marriage fail.
Uniform Commercial Code
A comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing the law among the states.
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