A Is a Particular Event That Must Take Place to Give

question 15

Multiple Choice

A is a particular event that must take place to give rise to a duty of performance of a contract.

• A) condition precedent
• B) condition subsequent
• C) substituted agreement
• D) compromise agreement

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Definitions:

Custodian

An individual or entity responsible for safeguarding assets, such as cash or securities, ensuring their safekeeping and proper use.

Journal Entry

A record in the accounting journal that represents a transaction and includes debits and credits.

Cash Register Overages

The situation where the amount of cash in a cash register exceeds the expected amount based on sales records.

Petty Cash Fund

A small amount of cash kept on hand within a business for minor, day-to-day expenses.