A breach of contract always gives rise to a cause of action for damages by the injured party
a. True
b. False
Indicate whether the statement is true or false
True
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Open-market operations are carried out between the Open Market Desk of the Fed and
A. foreign central banks. B. the U.S. government. C. citizens residing in the U.S. D. primary government securities dealers.
Section 548 of the Bankruptcy Code defines as fraudulent certain transfers made, or obligations incurred, within what specified time period?
a. 12 months b. 9 months c. 6 months d. 3 months e. 1month
Which of the following is TRUE when a partner withdraws his interest from the partnership?
A) He is obliged to pay a bonus to the existing partners. B) The existing partners are obliged to pay a bonus to the withdrawing partner. C) The partner';s capital account will be closed. D) He must get the book-value of his interest.
The main purpose of adjusting entries is to:
A. Record internal transactions and events. B. Record external transactions and events. C. Recognize assets purchased during the period. D. Correct errors in the accounting records. E. Recognize debts paid during the period.