Which One of the Following Is False with Regard to Exemption

question 91

Multiple Choice

Which one of the following is False with regard to exemption (exclusion) clauses?

• A) Such clauses are prohibited in any sale of goods contract.
• B) To be part of the contract, such clauses must be brought to the attention of the parties before or at the time of contract.
• C) Even if there is an exemption clause in the contract, the court can hold that the exemption clause is of no effect if the breach is a fundamental breach.
• D) Where there is an exemption clause in a contract, the court will strictly construe that clause; i.e., the wording of the clause must cover the situation that occurred.
• E) An effective exemption clause is a barrier blocking the party wronged from his or her remedy, e.g., from damages.

Explain the recalibration process of predetermined overhead rates and its significance at the beginning of each accounting period.

Understand the concepts and calculations involved in job-order costing.

Calculate predetermined overhead rates for different departments.

Apply manufacturing overhead to jobs using departmental rates.

---

Definitions:

Chromosomal Abnormalities

Variations in the number or structure of chromosomes, often leading to genetic disorders or variations.

Miscarriage

The spontaneous loss of a pregnancy before the fetus is able to survive outside the womb, typically before the 20th week of pregnancy.

Human Genetics

The science of inherited variation in humans.

Population Studies

Research and analysis of various characteristics of populations, such as size, distribution, and demographics, to understand trends and effects on society or ecosystems.