Which of the Following Statements Is TRUE

question 45

Multiple Choice

Which of the following statements is TRUE?

• A)If a court awards nominal damages,it will always award costs against the party that breached the contract.
• B)Canadian judges award punitive damages more often than American judges.
• C)Nominal damages are usually worth more than punitive damages.
• D)Punitive damages are intended to compensate the plaintiff for losses that it unexpectedly suffered as a result of the defendant's breach of contract.
• E)An account of profits normally is not available even if the defendant earned a large profit as a result of committing a breach of contract against the plaintiff.

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Definitions:

Net Income

The total profit or loss of a company after all revenues, costs, and expenses have been accounted for, typically reported at the bottom of the income statement.

Annual Amortization

The process of spreading out a loan or intangible asset's cost over its useful life, reflecting each year’s expense on the financial statements.

Investment Balance

Investment balance refers to the total value of all the securities or assets that an individual or institution holds in an investment account at a given point in time.