How Much Does Pell Record as Income from Demers for the Year

question 44

Multiple Choice

How much does Pell record as Income from Demers for the year ended December 31, 2019?

• A) $80,000.
• B) $74,400.
• C) $73,000.
• D) $42,400.
• E) $41,000.

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Definitions:

Consequential Damages

Indirect damages that do not flow directly from the act but occur as a consequence of the initial act, often involving loss of profit or other secondary losses.

Liquidated Damages

A pre-determined sum agreed upon by parties in a contract as compensation for breach of contract, where actual damages are difficult to ascertain.

Doctrine

A principle or body of principles presented for acceptance or belief by a religious, political, scientific, or philosophic group.