Which of the Following Is Not an Extraordinary Item

question 15

Multiple Choice

Which of the following is not an extraordinary item?

I. Loss on abandonment of property
II. Gain on disposal of a business segment
III. Effect of a strike against a key supplier
IV. Write-down of deferred research and development costs

• A)I and III
• B)II and IV
• C)I, II, and III
• D)I, II, III, and IV

Identify the criteria courts use to determine whether a party is an intended or incidental beneficiary.

Understand the roles and rights of intended, incidental, and creditor beneficiaries in contract law.

Explain the concept of assignment and delegation in contract law.

Grasp the conditions under which courts allow enforcement of rights by third-party beneficiaries.

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Definitions:

Salaries

Regular payments made by an employer to an employee, usually on a monthly or biweekly basis, for professional services rendered.

GDP

Gross Domestic Product, the total monetary value of all final goods and services produced within a country's borders in a specific time period, a primary indicator of economic health.

NDP

Net Domestic Product, a measure of a country's economic output that accounts for depreciation, representing the net value of all goods and services produced within a country's borders in a given time period.

Transfer Payments

Payments made by the government to individuals without any goods or services being received in return, such as welfare or unemployment benefits.