Approval Clauses Require That the ________ Approve Any Assignment of a Contract

question 65

Multiple Choice

Approval clauses require that the ________ approve any assignment of a contract.

• A) obligee
• B) obligor
• C) assignor
• D) assignee

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Definitions:

Current Rate Method

An accounting technique used to translate the financial statements of a foreign subsidiary to the parent company's reporting currency, using the current exchange rate at the balance sheet date for assets and liabilities.

Common Stock

A type of equity security representing ownership in a corporation, with holders typically having voting rights and receiving dividends.

Historical Rate

A reference to the exchange rate used in translating foreign currency amounts into the reporting currency for financial statements at a specific past date.

Temporal Method

A method of foreign currency translation that uses exchange rates based on the timing of the original transaction.