Which of the Following Is Not Required for a Contract

question 3

Multiple Choice

Which of the following is not required for a contract to be negotiable?

• A)Written
• B)Signed by maker
• C)An unconditional promise to pay an exact amount of money
• D)Paid to a specific person or to anyone presenting the contract
• E)All of the above are required

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Definitions:

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting the decrease in value over time.

Markdowns

Reductions in the retail prices of goods, typically to stimulate sales or clear inventory.

Markup

The sum included in the goods' purchase price to account for operational costs and earnings.

Return on Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated as the net profit divided by the cost of the investment.