Which of the Following Statements Is True About Unliquidated Debts

question 5

Multiple Choice

Which of the following statements is true about unliquidated debts?

• A)The amount being due and certain,a promise to pay less lacks consideration.
• B)Some courts allow collection of the remainder if checks marked "payment in full" are cashed without reservation.
• C)Since the amount is genuinely in dispute,an agreement resulting in accord and satisfaction is enforceable.
• D)Composition agreements are an exception to unliquidated debts and can be enforced without additional consideration.

Comprehend the process of recording the sale and return transactions under the perpetual inventory system.

Understand credit terms and their implications for financial transactions.

Understand the accounting treatment for merchandise returns from customers.

Distinguish between different types of sales (cash sales, sales on account, sales with bank credit cards).

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Definitions:

Service Delivery Model

The framework for how a company provides products or services to its customers, focusing on efficiency and quality.

E-Learning

The use of digital platforms and technologies to facilitate learning and training remotely, often via the internet.

E-Recruiting

The process of using web-based technology to attract, assess, select, and hire candidates for jobs.

Web-Based HR

Human resource functions and processes that are conducted over the internet, allowing for digital management of tasks like recruitment and training.