Legal detriment is:
a. obtaining something to which one had no prior legal right.
b. the benefit to the promisor or detriment to the promisee.
c. doing an act that one is not legally obligated to do.
d. doing an act that one has a legal right to do.
c
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What is one of the biggest mistakes aspiring entrepreneurs make with regard to competition in the market in which they intend to enter?
a. Using the wrong distribution channel b. Underestimating the extent of competition he/she will face upon market entry c. Not advertising enough d. Using the wrong pricing strategy
If a company uses $1450 of its cash to purchase supplies, the effect on the accounting equation would be:
A. Assets decrease $1450 and equity decreases $1450. B. Assets increase $1450 and liabilities increase $1450. C. Assets increase $1450 and liabilities decrease $1450. D. Assets decrease $1450 and equity increases $1450. E. One asset increases $1450 and another asset decreases $1450, causing no effect.
Use the information in Scenario 4.5. What action, if any, should the King Company take?
A) Do nothing—neither alternative provides a positive net present value after five years. B) Select Alternative #1. C) Select alternative #2. D) Either alternative may be selected, since the positive net present values are the same after five years.