The Misleading Statement Being Complained of Was an Expression of Opinion

question 108

True/False

The misleading statement being complained of was an expression of opinion rather than fact; it is not actionable,even if the person making the statement was an expert.

---

Definitions:

Prepaid Insurance

Prepaid insurance refers to insurance premiums that have been paid in advance and are recorded as a current asset on the company's balance sheet until the period the insurance coverage relates to occurs.

Adjusting Entry

An adjusting entry is made in the accounting records at the end of a period to allocate income and expenditures to the appropriate period.

Insurance Expense

The cost incurred by a business or individual for purchasing insurance coverage.

Office Supplies Expense

The cost associated with purchasing supplies used in the daily operations of an office.