The Possible Consequences of Actionable Misrepresentation Include

question 40

Multiple Choice

The possible consequences of actionable misrepresentation include

• A)a damage award for breach of contract.
• B)the remedy of rescission.
• C)the remedy of an injunction.
• D)the remedy of an incision.
• E)a fine for breach of contract.

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Definitions:

Inventory Valuation

The method of calculating the cost of goods available for sale and determining the end inventory balance.

Net Realizable Value

The estimated selling price of goods, minus the costs of their completion and costs necessary to make the sale.

Market Value

Market value is the current price at which an asset or service can be bought or sold in a marketplace.

Ending Inventory

The total value of all merchandise or goods held by a company at the end of an accounting period, which has not been sold.