An Oral Contract Is Not Enforceable Unless the Parties Admit

question 59

True/False

An oral contract is not enforceable unless the parties admit to its existence in court.

Learn about the adaptive functions of emotions in human behavior.

Understand the genetic and evolutionary perspectives on emotions.

Distinguish between genuine and fake emotional expressions.

Apply emotional theories to real-life situations and decision-making processes.

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Definitions:

Financial Reporting Periods

are the specific time frames covered by financial reports, often annually or quarterly, over which an organization reports its financial performance and position.

Early Adoption

Early adoption refers to the implementation of new accounting standards or regulations before the mandatory effective date prescribed by the regulatory bodies.

Reportable Segments

Operating segments for which an entity reports separate information.

Quantitative Threshold

A predefined numeric limit used to measure the significance or materiality of data, often used to decide when an action is required.