A Small Firm's Special "Signature" Is Called a Logo

question 75

True/False

A small firm's special "signature" is called a logo.

Evaluate the effectiveness of comparing incomes in assessing well-being.

Understand the concept and implications of misrepresentation in contracts.

Distinguish between different types of misrepresentation (fraudulent, negligent, and innocent) and understand the remedies available.

Recognize and differentiate between duress, undue influence, and non est factum in contract law.

---

Definitions:

Contribution Margin

The contribution margin is the difference between sales revenue and variable costs, showing how much revenue contributes to fixed costs and profit.

Variable Costs

Expenditures that fluctuate based on the production levels or the number of sales.

Break-Even Point

The point at which total costs and total revenue are equal, meaning there is no net loss or gain.

Fixed Costs

Costs that do not vary with the volume of production or sales, such as rent, salaries, and insurance.