Dakota Oil,Inc

question 70

Multiple Choice

Dakota Oil,Inc.reported that its sales and EBIT increased by 10%,but its EPS increased by 30%.The much larger change in earnings per share could be the result of

• A) high operating leverage.
• B) high financial leverage.
• C) a high percentage of credit sale collections from prior years.
• D) high fixed costs of production.

Understand the distinctions and legal implications between bilateral contracts and unilateral contracts.

Differentiate between breach of contract and failure of condition.

Recognize when a contract can be discharged through various means, such as performance, alteration, rescission, or frustration.

Analyze the effects of anticipatory repudiation on contractual obligations.

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Definitions:

Handwriting

The individual manner in which a person writes with a pen or pencil, producing characters and symbols on a surface, often analyzed in legal documents for authentication.

Irrevocable

Not able to be changed, reversed, or recovered; final and unalterable.

Renunciation

The act of formally or officially giving up a right, position, or responsibility, often in a legal or ceremonial context.

Statutory Right

A right granted by legislation, which is enacted by a legislative body.