In 2017, the Change in Unrestricted Net Assets Is

question 20

Multiple Choice

In 2017, the change in unrestricted net assets is

• A) $0
• B) $200,000 increase.
• C) $200,000 decrease.
• D) $1,000,000 increase.

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Definitions:

Scienter

Knowledge of wrongdoing or fraudulent intent, often required to be proven in cases of securities fraud.

Unilateral Mistake

A situation in contract law where only one party is mistaken about a basic assumption on which the contract is based.

Subjective Value

The worth or importance of something based on personal preferences, opinions, or experiences, rather than its objective market value.

Fraudulent Misrepresentation

Occurs when one party deceives another by intentionally providing false information, leading to an agreement or transaction based on that misinformation.