Examlex
Indicate on which financial statement each of the following items appears.Use I for income statement,E for statement of retained earnings and B for balance sheet.
Unauthorized Contract
A contract made by a person who lacks the authority to do so, potentially making it unenforceable against the presumed principal.
Torts
Civil wrongdoings recognized by law as grounds for a lawsuit, resulting in injury or harm to someone and constituting the basis for a claim by the injured party.
Misrepresent
To provide false or misleading representation of facts, often with the intention to deceive.
Independent Contractor
An individual or entity contracted to perform work for another entity as a non-employee, offering services to the public.
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