An Agreement That Cannot Be Enforced Is ____________ and Is

question 113

Essay

An agreement that cannot be enforced is ____________ and is not really a contact at all.​

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Definitions:

Unrealized Gain

The increase in value of an asset that has not been sold yet, therefore the gain is not reflected in the income statement.

Consolidated Financial Statements

Financial statements that present the assets and liabilities controlled by the parent company and the total revenues and expenses of the subsidiary companies.

Subsidiary Company

A company that is entirely or majority-owned by another company, referred to as the parent company.

Controlling Interest

Ownership of more than 50% of the common stock of another entity.