The Restatement Provides That a Promise Following the Rendering of Emergency

question 67

True/False

The Restatement provides that a promise following the rendering of emergency services is binding even if not supported by consideration if necessary to prevent injustice.

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Definitions:

Debt To Equity Ratio

A financial ratio indicating the relative proportion of shareholder's equity and debt used to finance a company's assets.

Accounts Receivable Turnover

A financial ratio that measures how efficiently a company collects cash from its credit sales by dividing net credit sales by the average accounts receivable.

Inventory Turnover

A ratio showing how many times a company has sold and replaced inventory over a period.

Allowance For Doubtful Accounts

A contra-asset account that reduces the total receivables on the balance sheet by the amount expected not to be collected.