One Party to a Contract Permitting the Other Party to Continue

question 12

Multiple Choice

One party to a contract permitting the other party to continue performance without objecting that the performance is unsatisfactory is an example of a(n) :

• A) waiver.
• B) breach.
• C) anticipatory repudiation.
• D) forbearance.

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Definitions:

Remeasured

The process of adjusting the book value of a foreign subsidiary’s financial statements to reflect current exchange rates or the fair value of assets and liabilities.

Straight-Line Method

A method of calculating depreciation by evenly spreading the cost of an asset over its useful life.

Functional Currency

The currency of the primary economic environment in which an entity operates, typically the currency in which it principally generates and expends cash.

Cash Dividend

A payment made by a corporation to its shareholders, usually in the form of cash, as a portion of the corporation’s earnings.