The party that breaks a contract may be required to pay damages to the other party to compensate for:
A) losses that could have been avoided by hiring someone else to perform the contract
B) emotional disturbance caused by the breach of contract.
C) a heart attack induced by the emotional disturbance caused by the breach of contract.
D) damages resulting necessarily and directly from the breach of contract.
D
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Promissory notes are non-negotiable
a. True b. False Indicate whether the statement is true or false
The breakeven formula adjusted for profits may be stated as
a. S = VC – FC + P. b. S = VC – FC – P. c. VC + FC – P = S. d. S = VC + FC + P.
The gross profit method of estimating inventory would NOT be useful when
a. a periodic system is in use and inventories are required for interim statements. b. there is a significant change in the mix of products being sold. c. inventories have been destroyed or lost by fire, theft, or other casualty, and the specific data required for inventory valuation are not available. d. the relationship between gross profit and sales remains stable over time.
Sweet Selections is a general partnership that sells candy, cards and flowers. Sweet Selections has ten partners. Jill and Amy each have a 25 percent interest in the partnership. All the other members have a 10 percent interest. To pass a management decision
a. a majority of the partners must agree to the decision. b. both Jill and Amy must agree to the decision. c. Jill or Amy must agree to the decision. d. 30 percent of the partners must agree to the decision.