As a General Rule, the Nondisclosure of Information That Is

question 9

True/False

As a general rule, the nondisclosure of information that is not asked for does not impose fraud liability or impair the validity of a contract.

---

Definitions:

Composite Rate

A single interest rate that reflects the combination of rates applied to several different financial transactions or loans.

Residual Value

The anticipated final value of an asset after its period of utility has ended.

Sum-Of-The-Years'-Digits

A depreciation method that accelerates the expense recognition, based on a descending fraction of the sum of the year digits.