According to Box 10

question 1

Multiple Choice

According to Box 10.1, in addition to consisting of unusually large datasets, big data

• A) are collected digitally.
• B) take a long time to process.
• C) take years to accumulate.
• D) describe social units such as cities, states, and nations.

Differentiate between remedies available for breached contracts and conditions under which they apply.

Recognize the impact of anticipatory repudiation on contracts and the remedies available.

Identify the principles of the implied covenant of good faith and fair dealing.

Understand how courts determine the materiality of a breach and its significance.

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Definitions:

Translation

The process of converting the financial statements of a foreign subsidiary into the reporting currency of the parent company, according to appropriate accounting standards.

Purpose

The underlying motive or reason for the creation or existence of something.

Translation Adjustment

An adjustment in the financial statements to account for gains or losses that arise from converting foreign currencies into the reporting currency.

Functional Currency

The primary currency of the primary economic environment in which an entity operates, used in generating and expending cash.