Which of the Following Statements About Gratuitous Assignments Is False

question 16

Multiple Choice

Which of the following statements about gratuitous assignments is false?

• A)A gratuitous assignment is one where the assignee gives no value.
• B)A gratuitous assignment is generally revocable until the obligor satisfies the obligation.
• C)A gratuitous assignment can be revoked by a notification of revocation given by the assignor to the assignee.
• D)A gratuitous assignment will not be revoked upon the assignor's death or incapacity.

Identify and explain the major fields and career opportunities in accounting.

Analyze financial statements and identify missing information.

Understand the importance and procedures of financial statement preparation.

Recognize and apply fundamental accounting principles and assumptions.

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Definitions:

Cost-Benefit Analysis

A systematic approach to estimating the strengths and weaknesses of alternatives used to determine the options that provide the best approach to achieve benefits while preserving savings.

Reagan Administration

The executive period from 1981 to 1989 when Ronald Reagan served as the President of the United States, known for its conservative policies.

Annual Deposits

Regular sums of money placed into an account or investment over the course of a year.

Retirement Planning

The process of determining retirement income goals and the actions and decisions necessary to achieve those goals.