Reformation is an equitable remedy that allows a court to rewrite a contract to suit itself
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
The method of analyzing capital investment proposals that divides the estimated average annual income by the average investment is:
A) cash payback method B) net present value method C) internal rate of return method D) average rate of return method
The payback period measures the time required for a project's cash inflows to equal the original investment
Indicate whether the statement is true or false
Jane finds a material misstatement while auditing a client's accounts receivables. Her senior tells her to ignore the misstatement so that the client does not get upset. Jane wants to be viewed as a team player in order to advance in the firm so Jane follows her senior's instructions and ignores the misstatement. Which ethical theory did Jane use to make her decision?
A. Virtue ethics B. Egoism C. Utilitarianism D. Justice
What is sales revenue, less cost of goods sold and operating expenses, called for income statement purposes?
A) Net profit before taxes B) Retained earnings C) Net income available to preferred shareholders D) EBIT