General Standards of Comparisons (Rules-Of-Thumb) Are Developed From

question 160

Multiple Choice

General standards of comparisons (rules-of-thumb) are developed from:

• A)Industry statistics from the government.
• B)Past experience.
• C)Analysis of competitors.
• D)Relations between financial items.
• E)Dun and Bradstreet.

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Definitions:

Restitution

A legal principle requiring a party to return or compensate for any loss or harm they have caused to another.

Oral Agrees

Agreements or contracts made through spoken communication rather than written, subject to certain legal limitations.

Consequential Damages

Indirect losses that arise not directly from a breach of contract but as a foreseeable result of the breach.

Compensatory Damages

Monetary compensation awarded to a plaintiff to offset losses or injuries that have occurred due to another's wrongdoing.