A Promise to Do Something That One Is Already Required

question 19

Multiple Choice

A promise to do something that one is already required to do either by law or by contract represents no additional sacrifice and is:

• A) a general release.
• B) an illegal act.
• C) not valid consideration.
• D) fraudulent.

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Definitions:

Investment Risks

Various factors or events that can cause an investment to underperform or result in the loss of value.

Payroll Bank Account

A specific bank account designated for processing payroll and related transactions for a company's employees.

Reconciliation Functions

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement, to ensure accuracy and consistency in financial accounts.

Federal Unemployment Compensation Taxes

Taxes imposed on employers to fund unemployment benefits for workers who have lost their jobs.