Which of the Following Is NOT a Usual Source of Implied

question 21

Multiple Choice

Which of the following is NOT a usual source of implied terms?

• A)terms that are reasonably necessary,in accordance with the expectation of the parties,to promote business efficacy
• B)long-established customs in particular types of trades
• C)long-established customs in particular types of transactions
• D)what the parties discussed prior to entering the contract
• E)none of the above

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Definitions:

Straight-Line Method

A method of allocating the cost of an asset evenly over its useful life.

Double-Declining-Balance

A method of accelerated depreciation that doubles the straight-line depreciation rate and applies it to the reducing book value each year.