What are liquidated damages?
What will be an ideal response?
The buyer and seller may provide their own remedies, to be applied in the event that one of the parties fails to perform. They can also limit either the remedies that the law makes available or the damages that can be recovered. If the parties agree on the amount of damages that will be paid to the injured party, this amount is known as liquidated damages. An agreement for liquidated damages is enforced if the amount is reasonable and if actual damages would be difficult to prove in the event of breach of the contract. The amount is considered reasonable if it is not so large as to be a penalty or so small as to be unconscionable. If a liquidated damages clause is not enforceable because it is a penalty or unconscionable, then the injured party can recover the actual damages that were suffered.
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What is the most favorable audit opinion that a company can receive on its financial statements?
A. Adverse opinion B. Unqualified opinion C. Qualified opinion D. Disclaimer of opinion
Giselle is happy with her job at the firm. She works hard during the week and accomplishes her tasks on time. She spends her time on the weekend volunteering with her philanthropy group. The philanthropy group does not have anything to do with the firm. She just enjoys working on projects for less fortunate people. Giselle is
a. Extrinsically motivated b. Extraneously motivated c. Inherently motivated d. Intrinsically motivated
Indicate the plural form of the singular noun. belief
The Q&A session, while enjoyable, can also be quite ______.
a. dry. b. challenging. c. boring. d. costly.