When the Rights Under a Contract Are Highly Personal, They

question 5

True/False

When the rights under a contract are highly personal, they are not assignable.

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Definitions:

Journal Entry

A record that details all the financial transactions of a company and their effect on accounts.

Salvage Value

Salvage value is the estimated residual value of an asset at the end of its useful life, assuming there is still value left after its primary use is over.

Ore Sold

The total volume or revenue generated from selling mined materials before they are refined or processed.

Depletion

The allocation of the cost of natural resources over their useful lives in a manner similar to depreciation of physical assets.