Bankruptcy results in a discharge of contractual obligations by __________
A) default
B) equity
C) operation of law
D) oath or affirmation
C
You might also like to view...
Common body typefaces for presentations are:
a. Arial b. Comic Sans c. both of the above d. none of the above
What effect will the following closing entry have on the retained earnings account?Service Revenue18,800 Interest Expense 750Operating Expenses 15,500Retained Earnings 2,550
A. Retained earnings will decrease by $2,550. B. Retained earnings will increase by $2,550. C. Retained earnings will remain unchanged. D. Retained earnings will be transferred to the income statement.
Contracts that are executory on both sides can be rescinded by agreement
Indicate whether the statement is true or false
When a greenhouse plant grower sells plants to nursery retailers, is selling _____ products.
A. specialty B. consumer C. convenience D. business E. unsought