Ben and Ivy Enter into a Contract Under Which Ben

question 25

Multiple Choice

Ben and Ivy enter into a contract under which Ben agrees to cater Ivy's wedding in exchange for a cash down payment. The contract expressly prohibits any transfer of rights. A contract right may be transferred, however, if the transfer involves

• A) ​a right to receive payment.
• B) ​a right to Ben's services.
• C) ​rights under Ivy's insurance policy against Ben's failing to perform.
• D) ​a right whose transfer is otherwise expressly prohibited by statute.

Understand the characteristics of an ineffective group and strategies for improvement.

Understand different learning theories and their applications.

Identify and apply the domains of learning: cognitive, affective, and psychomotor.

Recognize the significance of choosing appropriate teaching strategies based on learning objectives.

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Definitions:

Cash

A form of currency that companies and individuals use for transactions or to settle debts.

Journal Entry

is a record in accounting that notes the details of a financial transaction, including the accounts affected, debits, and credits.

Prepaid Insurance

A current asset account that represents payments made for insurance services that will be consumed in future periods.

Posting Reference

An alphanumeric code or number used in accounting to indicate the ledger account that a journal entry has been posted to.