By Inc. BarCharts
No matter if you're a company or accounting scholar trying to ace the following try out or a veteran of the company international who may perhaps use a refresher, the Accounting Equations & solutions QuickStudy® consultant is the following to assist! This three-panel consultant outlines primary and difficult-to-remember accounting equations for monitoring resources, liabilities, fairness, source of revenue, and extra, in addition to convenient tricks, universal pitfalls, and different issues to ensure you don’t permit whatever slip throughout the cracks. Examples are integrated for simple comprehension.
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Extra info for Accounting Equations & Answers
During that time, the mill has been out of operation as it cannot run without its main crank shaft. Daniel claims loss of profits against Lionel. Which of the following is correct? 32 A The claim must fail. Daniel's loss could not reasonably be foreseen by Lionel. B The claim will succeed for the second week. Lionel was contracted to deliver within a certain time and might reasonably have known that delay would inconvenience Daniel. C The claim must fail. Damages are not awarded for loss of profits, but only for expenses arising from the breach.
A Providing an agreement is in writing, it will always form a valid contract. B Cases involving breach of contract are normally heard in the Crown Court. C An agreement between two parties to undertake a criminal act is not a legally-recognised contract. D An agreement between two businesses to allow late payment for goods or services is not an example of a contract. Deb was induced to enter into a contract by the negligent misrepresentation of Dave. The contract was to buy three concert tickets.
The acceptance is complete as soon as A Ltd receives the fax. The contract cannot be concluded by fax. Acceptance by fax is subject to the 'post rules'. In relation to misrepresentation, which of the following statements is incorrect? A B C D As a general rule silence cannot amount to misrepresentation. The misrepresentee cannot claim damages if he has affirmed the contract. A person cannot rely on the misrepresentation if it did not induce him to contract. A half-truth may amount to a misrepresentation.
Accounting Equations & Answers by Inc. BarCharts