Briefly discuss the meaning of bilateral, unilateral, executory, and executed contracts
In a bilateral contract, both parties make a promise to do something. In a unilateral contract, one party makes a promise that the other party can accept only by actually doing something. A contract is executory when it has been made, but one or more parties has not yet fulfilled its obligations. A contract is executed when all parties have fulfilled their obligations.
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The variable overhead variance is affected by both input price changes and by how efficiently overhead is used
Indicate whether the statement is true or false
Contribution margin is the excess of sales over total variable costs.
Answer the following statement true (T) or false (F)
Cleaners & Solvents, Inc (CSI), engages in de-ceptive advertising when it markets its product Dirt Remover as able to kill germs over long periods of time. In an action against CSI regarding Dirt Remover, the firm is ordered to stop its false advertising of Dirt Remover and other products. This is
a. a counteradvertising order. b. a multiple product order. c. a "cooling-off" law. d. a validation notice.
All buyers are encouraged to engage in currency hedging activities, regardless of their level of experience
a. True b. False Indicate whether the statement is true or false