Global Enterprise Corporation Enters into a Contract with HealthCare Insurance

question 15

Multiple Choice

Global Enterprise Corporation enters into a contract with HealthCare Insurance Company to obtain insurance for Global employees. If HealthCare breaches the contract and Global is awarded compensatory damages,the purpose would be to

• A)establish,as a matter of principle,that HealthCare acted wrongfully.
• B)provideGlobal with funds for a foreseeable loss beyond the contract.
• C)provideGlobal with funds for its loss of the bargain.
• D)punishHealthCare and deter others from similar acts.

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Definitions:

Other Expenses

Expenditures that are not directly related to the production of goods or services, such as administrative and selling expenses.

Wells Serviced

The number of oil, gas, or water wells that have undergone maintenance, repair, or any other service by a company during a given period.

Corporate Function

Essential activities or roles within an organization that support its core business operations, such as human resources, finance, and IT.

Flexible Budget

A budget that adjusts or varies with changes in volume or activity, allowing for more accurate costing and financial planning.