________ Is Used as a Basis for Discharge by Operation

question 15

Multiple Choice

________ is used as a basis for discharge by operation of law when performance is still objectively possible but would be extraordinarily injurious or expensive to one party.

• A)Frustration of purpose
• B)Commercial impracticability
• C)Subjective impossibility
• D)Anticipatory repudiation
• E)Substantial performance

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Definitions:

Fees Accrued

Accrued fees are costs that have been incurred for services but have not yet been paid by the end of an accounting period.

Supplies Account

This is an account used in accounting to track the costs of supplies used in the operation of a business during an accounting period.

Wages Accrued

A liability representing wages earned by employees that have not yet been paid by the employer.

Rent Earned

Income received by a property owner when they lease out a property to a tenant.