Which of the Following Is True of the "Comply or Explain

question 93

Multiple Choice

Which of the following is true of the "comply or explain" approach to corporate governance?

• A)It set stiff financial penalties for companies that refused to abide by the operational standards.
• B)It gave companies the flexibility to comply with the governance standards or justify why they didn't in their corporate documents.
• C)It was extremely explicit when it came to defining what would be acceptable explanations for noncompliance.
• D)It proved to be an effective deterrent to financial scandals and reduced the incidence of unethical behavior in corporations.

Comprehend the effects of contractual provisions on the perfect tender rule in sales transactions.

Identify the obligations of payment and the rights to inspection before payment in a sales contract.

Learn the correct actions for rejection, revocation of acceptance, and the consequences thereafter.

Distinguish between the rights and duties under rejection and revocation of acceptance.

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Definitions:

Installation

is the process of setting up or assembling a piece of equipment or system in its place of operation.

Consequential

Referring to outcomes or results that follow as a direct or indirect effect of an action, often used in the context of damages in legal settings.

Requirements

Mandates or criteria set forth for achieving or maintaining a specific standard or fulfilling a specific condition.

Cover

In commercial transactions, the act of purchasing substitute goods when a seller fails to fulfill a contract.