With Regard to the Law Governing Privity of Contract and Assignment

question 102

Multiple Choice

With regard to the law governing privity of contract and assignment, which of the following is true?

• A) A statutory assignment is more difficult to enforce than an equitable assignment.
• B) A party to a contract for services can assign both his contractual obligations and his contractual rights.
• C) Novation refers to the modifications of the privity of contract rule since it allows a stranger to the contract to receive benefits from the contract.
• D) Assignments are modifications of the privity of contract rule since they allow ending the original contract and entering into a new contract with changes in terms, such as substituting one party for another.
• E) An employee sent by his employer to do a routine job for one of the employer's customers is not in a contractual relationship with the customer.

Calculate the consolidated balance sheet amounts for multinational corporations, including specific assets like equipment and depreciation expenses.

Determine the impact of currency exchange rate fluctuations on the financial statements of foreign subsidiaries.

Assess the effects of acquisition considerations on the financial statements, including the calculation of amortization for intangible assets.

Analyze the translation adjustments required when the functional currency differs from the reporting currency.

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Definitions:

Informative Advertising

Communication used to create and build brand awareness, with the ultimate goal of moving the consumer through the buying cycle to a purchase.

Brand Awareness

The extent to which consumers are familiar with the qualities or image of a particular brand of goods or services.

Repurchase

The action of buying a product or service again, often used as a measure of customer loyalty or satisfaction.

Advertising Plan

A section of the firm’s overall marketing plan that explicitly outlines the objectives of the advertising campaign, how the campaign might accomplish those objectives, and how the firm can determine whether the campaign was successful.