Absent provisions in the contract, which of the following types of damage can be awarded to an injured party under a breach of contract?
A. General damages only
B. General and incidental damages only
C. General, incidental, and special damages only
D. General, incidental, special and punitive damages
Answer: C
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If a company has internal auditors, it does not need to have external auditors
a. True b. False Indicate whether the statement is true or false
Which of the following could cause return on assets to decline when net profit margin is increasing?
a. Sale of investments at year-end b. Increased turnover of operating assets c. Decline in book value d. A stock split e. Purchase of a new building at year-end
Andrew Durham was injured in a job-related accident that resulted in a workers' compensation settlement agreement with the employer's insurance carrier, Traveler's Indemnity Company. The settlement agreement required Traveler's to pay Durham $2500 per
month for the rest of his life. To finance its obligation, Traveler's purchased an annuity in its name. The settlement agreement required Traveler's approval or written consent prior to an assignment of the annuity payments. Durham later decided to open a business and went to a credit union for a $214,000 loan. The credit union loaned the money, taking a security interest in Durham's monthly annuity payments. Traveler's consent was never secured. Discuss the conditions in which a right may not be assigned and assess if this was this a valid assignment.
Assuming equal time intervals between the payments and a constant rate of return, which of the following cash flow patterns represents an annuity? Year 1 Year 2 Year 3 Year 4 Year 5 Year 6A)$1060? $1060? $1060? $1060? $1060? $1060? B)$590? $0? $590? $590? $590? $0? C)$130? $230? $330? $430? $530? $630?
A. A B. B C. C D. Any of the answers can represent an annuity.