ACC 497 Final Exam - Assignment

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Section 2: Business Law 49. Damages intended to punish a defendant and deter the defendant and others from engaging in the same tortious conduct in the future are called A. penalty damages. B. retribution damages. C. punitive damages. D. nominal damages. 50. Where a contract calls for action that violates a statute, in a breach of contract case the court will A. impose the appropriate criminal penalty. B. ignore the contract and leave the parties where they are. C. order both parties to return any consideration received. D. order payments so that the parties to the illegal contract share any losses equally. Find the UOP Final exam answers here ACC 497 Final Exam Assignment 51. Ted’s Gifts and Sweets enters into a written contract with Bannon Candies to supply Ted’s with 60 boxes containing a dozen coconut clusters each month for sale to the public. The agreement contained an integration clause. Before the first delivery under the contract, Ted and his warehouse manager called Debbie, the Bannon’s account representative, to request that the candies be delivered in special Valentine’s Day boxes. Debbie told Ted, “Don’t worry, I’ll tell the shipping department to take care of that.” When the candies were delivered, they were in standard cardboard boxes. Ted called Bannon and threatened to sue for breach of contract. Will Ted prevail in his suit? A. Yes, Ted made a valid modification to the parties’ original agreement. B. No, Ted should have written a letter to change the type of boxes in the contract. C. Yes, Ted will prevail because he has a witness to the telephone call. D. No, Ted will not prevail because his attempt to modify the agreement was not effective.
52. Jane and Bill are married. They purchase a house and lot as tenants by the entirety. Then Jane is killed in a car accident. Her will leaves everything to her sister, Ruth. What will happen to Jane’s interest in the property? A. Ruth will own the property with Bill as tenants by the entirety. B. Ruth will own the property with Bill as joint tenants. C. Bill will be the sole owner of the property. D. Bill will have to buy out Ruth’s interest in the property. 53. Which of the following is a correct statement of the requirements for a bona fide occupational qualification? A. Job related and cost effective B. Job related and nondiscriminatory C. Job related and a business necessity D. Rationally based and evenly applied 54. Which of the following statements accurately describes the workers’ compensation rules? A. The employer can avoid liability if the injured employee was contributory negligent. B. The employer is liable for employment-related injuries only if negligent. C. The employee will collect for all work-related injuries and will not need to prove negligence on the part of the employer. D. The employee has the choice to sue or proceed under the workers’ compensation statute. REGULATION Section 3: Federal Tax Procedures and Accounting Issues 55. When a company holds between 20% and 50% of the outstanding stock of an investee, which of the following statements applies? A. The investor should always use the equity method to account for its investment. B. The investor should use the equity method to account for its investment unless circumstances indicate that it is unable to exercise significant influence over the investee.
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ACC 497 Final Exam - Assignment

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