The Electronic Signatures in Global and National Commerce Act Validates

question 30

Multiple Choice

The Electronic Signatures in Global and National Commerce Act validates:

• A)contracts relating to transactions affecting interstate commerce formed by electronic agents as long as the action of the electronic agent is legally attributable to the person to be bound.
• B)electronic signatures on codicils and testamentary trusts.
• C)electronic signatures on divorces and other matters of family law.
• D)electronic signatures on contracts governed by the UCC, other than sales and leases of goods.
• E)All of the above.

Understand the concept of cost-volume-profit (CVP) analysis and its importance in business decision-making.

Calculate break-even points in units and dollars using different methods and interpret the results.

Apply the graphical approach to CVP analysis for visualizing profit or loss at various levels of sales volume.

Analyze the impact of changes in sales volume, costs, and prices on business profitability using CVP concepts.

---

Definitions:

Recoverable Amount

The higher of an asset's fair value less costs to sell and its value in use, indicating the maximum amount that can be recovered from an asset through its use or sale.

Impairment Loss

A decrease in the book value of a company's asset when the asset's market value drops below its book value.

Statement of Cash Flows

A document that explains how fluctuations in balance sheet accounts and income streams affect cash and cash equivalents, dividing the analysis among operating, investing, and financing operations.

Capital Cost Allowance (CCA)

CCA is the tax deduction allowed in Canada for the depreciation of property used in a business or profession.