Once a Contract Is Agreed Upon and Ratified,it Must Be

question 37

Multiple Choice

Once a contract is agreed upon and ratified,it must be ________.

• A)sanctioned by both parties
• B)recognized
• C)put to a union vote
• D)documented
• E)administered

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Definitions:

Lower Of Cost

A principle requiring inventory to be recorded at the lower of its original cost or current market value, ensuring valuation is not overstated.