Examlex
An agreement is illegal when either its formation or performance is a crime or a tort,or it is contrary to public policy.
Carrying Amount
The recorded cost of an asset in a company's financial statements, less any accumulated depreciation or amortization.
Allowance for Doubtful Accounts
A contra-asset account used to reduce accounts receivable to its net realizable value by estimating uncollectible debts.
Bad Debts Expense
An expense recognized when it is probable that receivables will not be collected and is considered a cost of doing business on credit.
Allowance for Doubtful Accounts
A contra asset account that represents estimated uncollectible amounts from customers, reducing the gross receivables to their net realizable value.
Q1: Malice is always a required element of
Q8: NAFTA seeks to eliminate tariffs among which
Q8: A bilateral contract is essentially an exchange
Q9: Discriminatory and punitive incapacities have largely disappeared.
Q13: A bill of lading will be negotiable
Q20: A bailee can pass good title to
Q27: In order to establish the tort of
Q40: Generally,a promise is legally enforceable even if
Q49: Consideration always must be an act or
Q56: Customs and trade usage can override the