In the US,The Remedy of Specific Performance Is Limited to Those Instances

question 8

Multiple Choice

In the U.S.,the remedy of specific performance is limited to those instances where:

• A) money damages would be sufficient, but the injured party does not want them.
• B) the goods are unique.
• C) the buyer does not want the goods for which he contracted.
• D) the seller wants to force the buyer to take the goods.

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Definitions:

Useful Lives

The period over which an asset is expected to be usable by an organization, reflecting its anticipated period of economic benefit.

Revaluation Method

An accounting technique used to adjust the carrying value of an asset to its current market value.

Disclosure of Balances

Involves the requirement in financial reporting to provide detailed information about the balances of different accounts on the balance sheet or within the financial statements.

Useful Life Estimates

Projections or assessments of the duration during which an asset is expected to be economically viable and productive for its intended purpose.