Nelson, an accountant, enters into a contract to provide services to Operational Processes, Inc (OPI). Nelson does not finish the work within the contract's deadline. This causes OPI to fail to meet certain other deadlines owed to Prime Bank, which results in the firm's payment of penalties to the bank. Nelson is
A) liable for breach of contract
B) not liable, because Nelson is a professional.
C) not liable, because Nelson's failure must have been OPI's fault.
D) not liable, because the work took longer than foreseen.
A
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Which of the following is not true? Firms recognize revenue
a. when they have completed an earnings process or performed most or all of their obligations to customers, usually the delivery of a product or service. b. when they have received cash. c. using the percentage-of-completion method when the firms sell products under long-term contracts, such as construction companies. d. using the completed contract method [U.S. GAAP, only] when firms cannot reasonably estimate revenues and costs. e. using a variant of the cost-recovery method [IFRS, only] when firms cannot reasonably estimate revenues and costs.
A poor aggregate plan can result in
A) appropriate inventory levels. B) efficient use of capacity. C) better sales and lost profits. D) lost sales and lost profits.
Martian Airways Inc. has a 12% required rate of return. It does not expect to initiate dividends for 15 years, at which time it will pay $2.00 per share in dividends. At that time, Martian Airways expects its dividends to grow at 7% forever
What is an estimate of Martian Airways' price in 15 years (P15) if its dividend at the end of year 15 is $2.00? A) $42.80 B) $33.40 C) $31.20 D) $30.00
The most commonly quoted currency exchange is that between the U.S. dollar and the European euro. For example, a quotation of EUR/USD 1.2174. The euro is the base currency and the dollar the price currency
Indicate whether the statement is true or false.