Which of the Following Must Be Proven in Order for a Plaintiff

question 28

Multiple Choice

Which of the following must be proven in order for a plaintiff to successfully sue for negligent misstatement?

• A) reasonable reliance on the statement
• B) an absence of contractual relationship
• C) that the monetary loss is significant
• D) a breach in a contractual relationship

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Definitions:

Salary Owed

The amount of money that an employer is required to pay to an employee for work performed, which has not yet been paid at the statement date.

Unearned Gym Memberships

Income received by a gym or fitness center from memberships that have been paid for but not yet fully utilized, considered a liability until the services are rendered.

Gym Memberships Revenue

Income received from customers for granting access and use of a gym's facilities.

Adjusting Journal Entry

An entry made in the books at the end of an accounting period to allocate income and expenditure to the correct period.