Which of the following statements is accurate regarding a condition?
a. A condition is created only when the phrase "provided that" or a similar phrase introduces it.
b. A condition is an event that must occur before a party becomes obligated under a contract.
c. A condition must be expressly stated in order to be enforced.
d. A condition will not be enforced by the courts unless formal language is used, regardless of the intent of the parties to create a condition.
b
You might also like to view...
If income tax effects are ignored, accelerated depreciation methods
a. provide funds for the earlier replacement of fixed assets b. increase funds provided by operations c. tend to offset the effect of steadily increasing repair and maintenance costs on the income statement d. tend to decrease the fixed asset turnover ratio
On January 16, Whole Circle, Inc sold $5,000 merchandise to Smith, on account. Whole Circle could not collect cash from Smith and wrote off the account. Prepare a journal entry to record the write-off, assuming Whole Circle uses the allowance method
What will be an ideal response