Which of the Following Is Correct with Respect to Election

question 21

Multiple Choice

Which of the following is correct with respect to election of remedies?

• A) The Code follows the doctrine of election of remedies with respect to contracts for the sale of goods.
• B) The remedy of specific performance is consistent with that of restitution.
• C) A person who seeks an injunction may also seek incidental damages for the breach.
• D) All of these are correct.

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Definitions:

Production Volume

The amount of products a factory or plant has manufactured in a given time frame; it measures the output level of production activities.

Factory Utility Cost

The expense associated with the utilities consumed in the production process, such as electricity, gas, and water.

Mixed Cost

A cost composed of a fixed component and a variable component that changes with the level of activity or production.

High-low Method

An approach used in cost accounting to determine the variable and fixed components of a cost by analyzing the highest and lowest levels of activity.