Someone Who Attempts to Recover for Breach of Contract

question 6

Multiple Choice

Someone who attempts to recover for breach of contract:

• A)can recover only for those losses that he can prove with reasonable certainty.
• B)can recover for all consequences of the breach,whether foreseeable or not.
• C)can only do so for consequential damages.
• D)has no duty to mitigate (or minimize)damages.

---

Definitions:

Classified Revenue

Classified revenue involves organizing a company's revenue into distinct categories for detailed financial analysis and reporting.

Accounting Equation

The fundamental principle of accounting that states assets equal liabilities plus owner's equity.

Purchasing Supplies

The process of acquiring the goods and materials a company needs to operate.

Increases Liabilities

Refers to events or transactions that result in a rise in the amounts owed by a company, such as taking on new loans or issuing bonds.