To Determine the Ordinary Meaning of Words in a Contract,the

question 51

Multiple Choice

To determine the ordinary meaning of words in a contract,the court will consider

• A)what the intention of the parties was.
• B)what the parties said during their negotiations.
• C)what the dictionary says.
• D)what is usual business practice.
• E)all of the above

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Definitions:

Statement of Cash Flows

It's a financial document summarizing the total cash entering a company from operational earnings and investment revenues, as well as the cash spent on business-related activities and investment outlays during a specific period.

Operating Activities

Business activities related to the day-to-day operations that generate revenue, such as sales and purchasing of inventory.

Indirect Method

In accounting, a method used to calculate cash flows from operating activities by starting with net income and adjusting for non-cash transactions.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was put into use.