Ida and Kwame Are Both Mistaken as to the Content

question 46

Multiple Choice

Ida and Kwame are both mistaken as to the content within their contract. This type of mistake that is shared by both parties to an agreement is a[n] ________ mistake.

• A) dual
• B) unilateral
• C) mutual
• D) consensual
• E) between parties

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Definitions:

U.S. Accounting Standards

The principles, standards, and procedures set forth by governing bodies in the U.S., such as the Financial Accounting Standards Board (FASB), to guide the preparation of financial statements.

U.S. Congress

The bicameral legislature of the federal government of the United States, consisting of two houses: the Senate and the House of Representatives.

Internal Revenue Service

The U.S. federal agency responsible for the collection of taxes and enforcement of tax laws.

Tokenistic Fallacy

The misconception that the presence of a few individuals from underrepresented groups in positions of power disproves the existence of systemic inequality.