In the Case of an Anticipatory Breach

question 163

Multiple Choice

In the case of an anticipatory breach

• A) you have the right to demand the other side to perform, but you will not be required to perform yourself.
• B) you have the right to demand performance or to sue for breach.
• C) you must wait until the actual breach occurs before you can take any steps.
• D) the contract is declared void ab initio.
• E) the contract is unenforceable by either party.

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Definitions:

Cost To Retail Ratio

A method used in retail to calculate the inventory valuation by dividing the cost of goods sold by the retail price of the goods.

Inventory Cost Flow

The process of accounting for the costs associated with the goods throughout the stages of inventory, from raw materials to sold products.

Financial Statements

Documents that report on a company’s financial performance, position, and cash flows, giving insight into its financial health.

Assumptions

Predetermined notions or beliefs influencing the understanding or analysis of data or events.