The Payment of a Telephone Bill for the Month Would

question 11

Multiple Choice

The payment of a telephone bill for the month would include

• A) debiting Capital and crediting Accounts Payable.
• B) debiting Cash and crediting Telephone Expense.
• C) debiting Telephone Expense and crediting Accounts Payable.
• D) debiting Telephone Expense and crediting Cash.

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Definitions:

Unconscionable

Describes an agreement that is so unjust or overwhelmingly one-sided in favor of one party that it is deemed unenforceable under the law.

Rescind

As the word is applied to contracts, to terminate the contract as to future transactions or to annul the contract from the beginning.

Rescind

To revoke, cancel, or repeal a contract, agreement, or offer, making it as though it never existed.

Concealment

In contract law, taking active steps to prevent another from learning the truth.