Which of the following is permitted by courts today in the event of a material breach of contract?
A) obtaining specific performance if dollar damages are practicable as compensation
B) reforming the contract to help view the breach as a minor breach of contract
C) curing the material breach if the contract's time period has not lapsed
D) seeking an exception to the parol evidence rule
C
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Which of the following statements is FALSE?
A) If a firm only needs to use the asset for a short time, it is probably less costly to lease it than to buy and resell the asset. B) While owners of assets are likely to resell them only if the assets are "lemons," a short-term lease can commit the user of an asset to return it regardless of its quality. In this way leases can help mitigate the adverse selection problem in the used goods market. C) Car dealerships are in a better position to sell a used car at the end of a lease than a consumer is. D) If the asset's tax depreciation deductions are faster than its lease payments, there are tax gains from a true tax lease if the lessor is in a lower tax bracket than the lessee.
Regardless of the cost accounting system used, when the products are completed, they are transferred from work in process inventory to finished goods inventory
Indicate whether the statement is true or false