Which of the Following Is the Best Example of an Express

question 29

Multiple Choice

Which of the following is the best example of an express rather than implied contract?

• A) The patient seats herself in the dental chair.
• B) The dentist presents a written treatment plan involving periodontal surgery for the maxillary right quadrant to the patient.
• C) The patient arrives at the dental office at the scheduled time for an initial appointment to have an examination of discomfort in the mandibular left quadrant.
• D) The patient asks the dentist if the injection of local anesthetic will hurt and the dentist replies that she will anesthetize the patient very slowly and carefully to minimize discomfort.

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Definitions:

Indefinite-Lived Assets

Non-physical assets without a predefined expiry date in terms of economic benefits or usefulness.

Amortization

The systematic reduction of a loan or the spreading out of capital expenses for intangible assets over a specific period of time for accounting and tax purposes.

Fair Value

Fair value is the price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Asset Write-Downs

An accounting process involving the reduction in the book value of an asset when its market value falls below its current book value.