________ Refers to a Condition Whose Occurrence or Nonoccurrence of a Specific

question 20

Multiple Choice

________ refers to a condition whose occurrence or nonoccurrence of a specific event automatically excuses the performance of an existing contractual duty to perform.

• A)Condition precedent
• B)Condition subsequent
• C)Concurrent condition
• D)Implied condition

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Definitions:

Buying Stocks

The act of purchasing shares in a company with the expectation of earning a return on investment through dividends or stock price appreciation.

Cash Flow

Cash flow refers to the net amount of cash and cash-equivalents being transferred into and out of a business.

Direct Method

A cash flow statement preparation approach that involves reporting major classes of gross cash receipts and payments.

Accounts Receivable

Outstanding payments from customers to a company for products or services already rendered.