In addition to the three basic financial statements, which of the following is also a required financial statement?

Standardization of accounting standards helps decision makers compare results from one year to the next and from one company to another.

a. true b. false

The right to cure extends beyond the date that delivery is called for under the contract:

A) In all contracts covered by the UCC. B) In any situation where the seller had reasonable grounds to believe that the buyer would accept the nonconforming goods. C) In any situation where cure by the original delivery date would impose a hardship on the seller. D) Only if the contract allows. E) In any situation where it is commercially reasonable that it extend.