Which of the Following Statements Is FALSE? Undue Influence

question 58

Multiple Choice

Which of the following statements is FALSE? Undue influence

• A)can be presumed by the courts
• B)means one party to a contract has taken an unfair advantage over another party
• C)can be rebutted by independent legal advice
• D)will be assumed to exist in a contract between a small company and a large company
• E)can be assumed to exist in a contract between a husband and a wife

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Definitions:

Private Sector

The private sector comprises businesses and organizations not owned or operated by the government, typically focused on profit-making objectives.

FASB Membership

Individuals who serve on the Financial Accounting Standards Board, the organizaiton responsible for setting accounting standards in the United States.

CPAs

CPAs (Certified Public Accountants) are qualified accountants who have passed the CPA examination and met additional state certification and experience requirements.

Financial Accounting Foundation

An independent, private-sector organization responsible for the oversight, administration, and finances of its standard-setting boards, including the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).