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Jester Corporation's most recent income statement appears below: The beginning balance of total assets was $360,000 and the ending balance was $320,000.The return on total assets is closest to:
Condition Precedent
A contractual clause that requires certain conditions to be met before the contract becomes legally binding.
Condition Subsequent
A specific condition in a contract that, when it occurs, ends the contract's obligations.
Exemption Clause
A contract term that limits the liability of one party under certain circumstances, often found in terms and conditions.
Fundamental Breach
A violation of a contract that is so severe it permits the aggrieved party to terminate the agreement and possibly seek damages.
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