In Baum VHelget Gas Products,Inc

question 87

Multiple Choice

In Baum v.Helget Gas Products,Inc. ,what was the outcome of the handwritten notes that were claimed to comprise an employment contract?

• A)Handwritten notes can constitute a unilateral contract only.
• B)Handwritten notes can comprise certain types of contracts,but not an employment contract.
• C)Handwritten notes are too informal to comprise an employment contract.
• D)Handwritten notes can be considered an enforceable employment contract.
• E)Handwritten notes can be part of an employment contract,if a formal contract is subsequently executed.

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Definitions:

Adjusting Entry

A journal entry made at the end of the accounting period to allocate income and expenditure to the correct period.

Accounting Period

denotes the specific period of time covered by financial statements, typically a year or a quarter.

Liability Insurance

Insurance that provides protection against claims resulting from injuries and damage to people and/or property.

Prepaid Insurance

An asset account representing insurance payments made in advance for future coverage periods.