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The Datum Used by GPS Is

question 6

Multiple Choice

The datum used by GPS is

Comprehend termination of contracts by statute limitations, mutual agreement, or satisfaction of conditions.

Understand the concept of impossibility in contract law and differentiate between objective and subjective impossibility.

Recognize the role of conditions precedent and subsequent in determining the obligations of parties to a contract.

Analyze the impact of external circumstances, such as legal changes and specific events, on contract discharge.

Definitions:

Replenishment

Replenishment involves the process of restocking goods or materials in inventory to maintain adequate levels to meet consumer demand or operational needs.

Bank Reconciliation

Bank reconciliation is the process of comparing and matching figures from the accounting records against those shown on a bank statement to ensure they are in agreement.

NSF Check

A check that cannot be processed because the account it's drawn on does not have sufficient funds.

Outstanding Checks

Checks that have been written and recorded in the paying entity's accounting system but have not yet been cashed or cleared by the bank.