Every Company Prepares Only Four Adjustments-One for Each of the Four

question 24

True/False

Every company prepares only four adjustments-one for each of the four types of adjustments.

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Definitions:

Actual Cause

In tort law, the relationship between the unreasonable conduct and the injury to the innocent party, whether the injury was or was not foreseeable. Actual cause is also referred to as cause-in-fact.

Equal Credit Opportunity Act

A U.S. law that aims to give all individuals an equal chance to apply for loans and other forms of credit, regardless of race, religion, national origin, gender, age, or marital status.

Public Assistance Income

Financial support provided by government agencies to individuals and families who have low income or no income, to help them meet their basic needs.

Cooling-Off Rule

A Federal Trade Commission rule under which sales of consumer goods or services over $25 made away from the seller’s regular place of business may be canceled within three business days after the sale occurs.