Which of the Following Is TRUE

question 15

Multiple Choice

Which of the following is TRUE?

• A)A transaction can be unconscionable only if there is an inequality of bargaining power between the parties and that inequality results in an improvident bargain for the weaker party.
• B)A transaction can be unconscionable only if the bargain is not improvident.
• C)A transaction can be unconscionable only if the presumption of unconscionability is rebutted.
• D)A transaction can be unconscionable only if the contract is enforceable.
• E)A transaction is always unconscionable when a big company makes a deal with a consumer that is more to the benefit of the big company.

---

Definitions:

Accrued Expenses

Costs that a company has incurred but hasn't paid for yet, which show up as liabilities on the balance sheet.

Unadjusted Trial Balance

A list showing the balances of all ledger accounts before any adjustments are made, used as the first step in preparing financial statements.

Financial Statements

Documents that provide an overview of a company's financial condition in both short-term and long-term contexts, including the balance sheet, income statement, and cash flow statement.

Adjustment for Depreciation

The accounting process of allocating the cost of a tangible asset over its useful life to account for the reduction in value over time.