Which of the Following Is NOT an Example of a Disclosure

question 13

Multiple Choice

Which of the following is NOT an example of a disclosure required by statute?

• A) disclosure of significant liabilities that exist when making a domestic contract
• B) disclosure of material facts pertaining to the sale of securities
• C) disclosure of material facts by a financial officer of a corporation
• D) disclosure of a serious medical condition when obtaining life insurance
• E) disclosure of material facts by an accountant when she sells her car to a client

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Definitions:

Marginal Revenue

The additional revenue that a business earns from selling one more unit of a good or service.

Market Price

The ongoing cost at which an asset or service is available for buying or selling in a specific market.

Microchips

Small semiconductor devices that contain an integrated circuit, used in various electronic applications.

Price Effect

The impact on consumer demand and market supply when the price of a product changes, influencing the quantity bought and sold.