Which of the Following Is False Regarding the Statute of Frauds

question 16

Multiple Choice

Which of the following is false regarding the statute of frauds provision relating to an interest in land?

• A)No leases are within the statute of frauds.
• B)The statute requires a writing as evidence of a contract to sell land.
• C)A claim to an oral contract for the sale of land is not enough to prove a contract of sale existed.
• D)The statute is intended to prevent oral claims to the existence of a contract for the sale of land.
• E)Mortgages on land are within the statute of frauds.

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Definitions:

Non-cash Item

Expenses or incomes that do not result in actual cash flow, such as depreciation or stock-based compensation.

Depreciation Of Equipment

Depreciation of equipment refers to the accounting process of allocating the cost of tangible assets over their useful lives, reflecting the reduction in value over time.

Rent Expense

The cost incurred by a business or individual for the use of a property or equipment.

Operating Cash Flow

The total amount of money generated by a company's normal business operations.