The Supreme Court Recently Made an Exception to the Privity

question 80

Multiple Choice

The Supreme Court recently made an exception to the privity rule when it allowed

• A)indirect third party purchasers sue manufacturers for price fixing under the Competition Act
• B)class actions against the government by striking government workers
• C)pay day loan companies to set very high interest rates
• D)cooling off periods for door to door sales
• E)class actions by consumers against hospitals that released private information

Determine the correct reporting of inventory and cash balances affected by foreign currency translation in the balance sheet.

Assess the effect of foreign exchange rates on costs of goods sold and income statements.

Analyze the results of foreign exchange gains or losses based on various transaction scenarios.

Prepare journal entries for sales transactions and forward contracts in the context of a cash flow hedge.

---

Definitions:

Labor Migration

The movement of people from one area to another for the purpose of finding employment in sectors that require manual labor.

Public Health

The science and art of preventing disease, prolonging life, and promoting health through organized efforts and informed choices of society, organizations, public and private, communities, and individuals.

Anti-Malaria

Describes treatments, medications, or practices aimed at preventing or curing malaria, a mosquito-borne infectious disease.