8/4/25, 12:36 AM ACCT 2700 Final Exam Ostendorf
ACCT 2700 Final Exam Ostendorf TEST BANK
QUESTIONS AND ACCURATE DETAILED
ANSWERS \VERIFIED ANSWERS \ ASSURE
PASS ALREADY GRADED A+||LATEST UPDATE
2025 -2026
Eugene, an accountant, Undue influence
convinces his client Faye to
enter into a contract to
invest her
savings in Gathering, a non-
existent social media site.
There is clear and
convincing evidence that
Faye did not act out of her
free will. This is:
Don threatens physical Duress
harm to force Earl to sell
his flower shop to Don for a
below- market price. This
is:
An agreement subject to the False
writing requirement must be
written on paper
The purpose of the Statute True
of Frauds is to ensure that,
for certain types of
contracts, there is reliable
evidence of the contracts
and their terms.
A mortgage taken on a True
piece of land need not be
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,8/4/25, 12:36 AM ACCT 2700 Final Exam Ostendorf
in writing to be enforced.
A contract must be in True
writing to be enforceable if it
cannot by its terms be
performed within one year
from the day after the
contract's formation.
A contract need not be in False
writing to be enforceable if
its performance is possible
within one year of its
formation, even if that
performance is not likely.
A promise to pay a primary True
obligation
generally does not need to
be in writing to be
enforceable.
A promise to pay another's True
debt only if that party fails
to pay (a secondary
obligation) needs to be in
writing to be enforceable
An oral sales contract for True
goods priced at less than
$500 is enforceable.
To satisfy the UCC's Statute False
of Frauds, a writing
evidencing a sale of goods
need only state the price
term.
A written contract must False
consist of a single document
to constitute an enforceable
contract.
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, 8/4/25, 12:36 AM ACCT 2700 Final Exam Ostendorf
Dave and Evan orally None of the choices
agree to the sale of 40
acres of farmland. Evan
asks Finance Bank to lend
him the funds to buy the
land.
Under the Statute of Frauds,
the agreement between Dave
and Evan is enforceable by:
To cater a holiday banquet, $500
Food Service LLC agrees to
buy 100 pre-made pumpkin
pies from Great Desserts
Inc. OT be
enforceable, the
agreement must be in
writing if the pies cost
at least:
Air Flo Inc. and Banyan None of the choices
Grove Apartments enter
into an oral contract in
which Air Flo agrees to
provide air-conditioning
and
heating maintenance for
Banyan Grove's facilities for
two years. This contract is
enforceable by:
Elena offers to invest a certain Only if it is in writing
amount in Fred's business if
Fred marries Elena's
daughter, Gloria. This
promise is enforceable:
3/1
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ACCT 2700 Final Exam Ostendorf TEST BANK
QUESTIONS AND ACCURATE DETAILED
ANSWERS \VERIFIED ANSWERS \ ASSURE
PASS ALREADY GRADED A+||LATEST UPDATE
2025 -2026
Eugene, an accountant, Undue influence
convinces his client Faye to
enter into a contract to
invest her
savings in Gathering, a non-
existent social media site.
There is clear and
convincing evidence that
Faye did not act out of her
free will. This is:
Don threatens physical Duress
harm to force Earl to sell
his flower shop to Don for a
below- market price. This
is:
An agreement subject to the False
writing requirement must be
written on paper
The purpose of the Statute True
of Frauds is to ensure that,
for certain types of
contracts, there is reliable
evidence of the contracts
and their terms.
A mortgage taken on a True
piece of land need not be
1/1
8
,8/4/25, 12:36 AM ACCT 2700 Final Exam Ostendorf
in writing to be enforced.
A contract must be in True
writing to be enforceable if it
cannot by its terms be
performed within one year
from the day after the
contract's formation.
A contract need not be in False
writing to be enforceable if
its performance is possible
within one year of its
formation, even if that
performance is not likely.
A promise to pay a primary True
obligation
generally does not need to
be in writing to be
enforceable.
A promise to pay another's True
debt only if that party fails
to pay (a secondary
obligation) needs to be in
writing to be enforceable
An oral sales contract for True
goods priced at less than
$500 is enforceable.
To satisfy the UCC's Statute False
of Frauds, a writing
evidencing a sale of goods
need only state the price
term.
A written contract must False
consist of a single document
to constitute an enforceable
contract.
2/1
8
, 8/4/25, 12:36 AM ACCT 2700 Final Exam Ostendorf
Dave and Evan orally None of the choices
agree to the sale of 40
acres of farmland. Evan
asks Finance Bank to lend
him the funds to buy the
land.
Under the Statute of Frauds,
the agreement between Dave
and Evan is enforceable by:
To cater a holiday banquet, $500
Food Service LLC agrees to
buy 100 pre-made pumpkin
pies from Great Desserts
Inc. OT be
enforceable, the
agreement must be in
writing if the pies cost
at least:
Air Flo Inc. and Banyan None of the choices
Grove Apartments enter
into an oral contract in
which Air Flo agrees to
provide air-conditioning
and
heating maintenance for
Banyan Grove's facilities for
two years. This contract is
enforceable by:
Elena offers to invest a certain Only if it is in writing
amount in Fred's business if
Fred marries Elena's
daughter, Gloria. This
promise is enforceable:
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8
