In the Case of Hadley V

question 12

Multiple Choice

In the case of Hadley v.Baxendale, the plaintiff was seeking damages for:

• A)restitution.
• B)lost profits.
• C)failure to convey land.
• D)failure to specifically perform a contract.

---

Definitions:

Financial Statement

A summary report that quantitatively describes the financial health of a company. This includes the balance sheet, income statement, and statement of cash flows.

Deferrals

Accounting method that involves postponing the recognition of certain revenues or expenses until a later accounting period to match them with the period they affect.

Accruals

Expenses and revenues that have been incurred or earned but not yet recorded in the accounts.

Accounting Principle

A rule or guideline in accounting that dictates how financial transactions and elements should be recorded and reported.