The Courts Will Find an Implied Contract When

question 45

Multiple Choice

The courts will find an implied contract when

• A)justice demands it.
• B)conduct of the parties indicates they intended an agreement.
• C)there is promissory estoppel.
• D)there is undue influence.

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Definitions:

Compound Entry

An accounting entry that involves more than two accounts, recording multiple debits and/or credits in a single transaction.

Journal

A detailed record of all the financial transactions of a business, which are initially documented before summarizing in the ledger.

Posting

The process of transferring journal entry amounts to ledger accounts in accounting.

Analyze Each Transaction

The process of closely examining financial transactions to ensure they are accurately recorded in the correct accounts.