Revenues from Peripheral Transactions Are Considered Gains, While Those from a Company's

question 77

True/False

Revenues from peripheral transactions are considered gains, while those from a company's principal line of business would be considered sales or revenues.

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Definitions:

Unilateral Mistake

A situation in contract law where only one party is mistaken about a fundamental aspect of the contract, which under certain conditions, may lead to the contract being voided.

Elements

Fundamental components or aspects that constitute the essential characteristics of something.

Type of Fraud

Specific categories of deceit or trickery intended to gain an unfair or unlawful advantage, such as identity theft or insurance fraud.

Establish

To set up, start, found, or create something on a firm or permanent basis.