If a Party Can Prove Only Misrepresentation,the Remedy Available to the Injured

question 33

Multiple Choice

If a party can prove only misrepresentation,the remedy available to the injured party is to:

• A) extend the contract.
• B) bring suit for damages.
• C) accept the contract.
• D) cancel the contract.

Recognize the treatment and disclosure of non-cash transactions in the statement of cash flows.

Analyze cash flow for performance measurement and understand its impact on company valuation.

Identify and understand the implications of cash equivalents and their reporting.

Apply AASB 107 in the preparation and presentation of the statement of cash flows.

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Definitions:

Cash Cycle

The duration between the initial cash outlay for the purchase of inventory and the collection of cash from customers from sales, essentially measuring the liquidity efficiency of a company.

Purchasing Inventory

The process of acquiring goods and materials that a business sells or uses in its production process, an essential component of supply chain management.

Fixed Asset Sale

The process of selling long-term assets, such as property, plant, and equipment, for cash or other compensation.

Cash Increase

A rise in the amount of cash and cash equivalents held by a business.