An Implied Contract Is Not an Actual Contract

question 54

True/False

An implied contract is not an actual contract.

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Definitions:

Change In Cash

The difference in a company's cash balance over a specified period, resulting from its operating, investing, and financing activities.

Stock Market

The stock market is a collection of markets and exchanges where the buying, selling, and issuance of shares of publicly-held companies occur.

Going Concern

An accounting principle presuming that a company will continue operating and not go bankrupt or be liquidated in the foreseeable future.

Statement Of Cash Flows

A financial report detailing how modifications in balance sheet accounts and income influence cash and cash equivalents.