Guthrie Caterers Failed to Turn Up as Contracted to Cater

question 27

True/False

Guthrie Caterers failed to turn up as contracted to cater Dev and Rabinda's wedding reception. The deposit, which was the only money paid to that point, was returned by courier the next morning without comment. There was an express repudiation of the contract when Guthrie failed to arrive when and where they should have.

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Definitions:

Issued

Refers to the total number of shares that have been allocated by a company and are held by shareholders.

Market Rate

The prevailing interest rate available in the marketplace for securities or loans, which can fluctuate based on supply and demand, inflation, and other economic factors.

Carrying Value

The book value of assets and liabilities as recorded in a company's financial statements, reflecting their historical cost adjusted for any depreciation or amortization.

Effective Interest Method

A technique used for calculating the interest income of a debt investment over its expected life, adjusting for the impact of amortizing any discount or premium on the purchase price of the bond.