Kirk Entered into a Contract with Yemmi to Haul Gravel

question 14

True/False

Kirk entered into a contract with Yemmi to haul gravel in his large tandem truck from Yemmi's gravel pit to a building site some five kilometres distant, at $60 per load. Before Kirk was to begin performance, his truck was destroyed in a serious traffic accident. If Kirk deliberately destroyed his truck, Yemmi can insist that he perform the agreement or compensate Yemmi for any loss that might result from Kirk's non-performance.

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Definitions:

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries have been made, used as the basis for preparing financial statements.