A Pleas of Non Est Factum

question 96

Multiple Choice

A pleas of non est factum

• A)is applicable only where both parties have made a mistake.
• B)means it is not my doing.
• C)is not a good defence against third parties.
• D)means the contract is not correct.
• E)can only be raised if there is a misrepresentation.

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Definitions:

Intragroup Transaction

Transactions between companies that are part of the same corporate group, which must be eliminated in the consolidated financial statements.

NCI Adjustment

A modification made to reflect changes in the non-controlling interest's share of equity in a subsidiary.

Tax Rate

The percentage at which an individual or corporation is taxed by the government on their income or assets.

Inventory

The goods and materials a business holds for the purpose of resale or production.