Danube Corp

question 127

Multiple Choice

Danube Corp.purchased a used machine for $21,000.The machine required installation costs of $6,000 and insurance while in transit of $700.At which of the following amounts would the machine be recorded?

• A)$21,000
• B)$27,000
• C)$21,700
• D)$27,700

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Definitions:

Promisor

The individual or party in a contract who makes a promise to perform an act or service.

Promisee

The party in a contract to whom a promise is made by another party (the promisor), and who stands to benefit from the fulfillment of that promise.

State Common Law

The body of law developed through court decisions and precedent, as opposed to laws enacted by a legislative body, within a particular state.

Article 2

A portion of the Uniform Commercial Code that deals specifically with the sale of goods.