CPA Exam 2 Questions with Correct
Verified Answers, Already Passed!
(Complete & Accurate)
1. If the service element is predominant in a contract, the ucc is
partially applicable - ANS ✓false
2. Under the code, the question of who bears the risk of loss of
goods in transit is resolved by determining who has title to the
goods - ANS ✓false
3. The warranty of fitness for a particular purpose applies only to
merchants - ANS ✓false
4. Under the ucc, some benefits of warranties extend to persons
who did not themselves purchase the particular defective goods
- ANS ✓true
5. When the express terms of a contract and the past course of
dealings are in conflict, the express terms will prevail - ANS
✓true
6. The perfect tender rule states that the buyer must tender
payment at the time of delivery before receiving the goods - ANS
✓false
CPA Exam 2
, 2
CPA
7. If a liquidated damages clause is not enforceable because it is
unconscionable, the injured party is barred from recovering
actual damages - ANS ✓false
8. A principal may transact, through an agent, any business the
principal lawfully could do in person - ANS ✓true
9. Agents may use the formulas, processes, and mechanisms they
have acquired while employed by their principal - ANS ✓false
10. The agent does not have to inform the principal of
knowledge the agent gains in the course of her responsibilities -
ANS ✓false
11. Generally, notice to the agent is notice to the principal if it
relates to the business agency - ANS ✓true
12. When the agent colludes with a third party to withhold
knowledge or money from the principal, the principal will be
liable - ANS ✓false
13. If a third person pays a debt to the principal's agent that he
owed the principal, the debt is discharged even if the agent
pockets the money and does not turn it over to the principal -
ANS ✓true
14. Most franchise contracts are "contracts of adhesion" - ANS
✓true
CPA Exam 2
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