An Executed Contract Is One That Has Been Fully Performed

question 56

True/False

An executed contract is one that has been fully performed by both parties to it.

---

Definitions:

Materials Requisition

A materials requisition is a document or electronic request used within a company to authorize the transfer of materials from inventory for production or other use.

Production Managers

Professionals responsible for overseeing the production process, ensuring that manufacturing runs smoothly, efficiently, and within budget.

Materials Costs

Costs associated with the raw materials used in the production of goods.

Work in Process Inventory

Inventory that includes materials that have been partially worked on but are not yet completed products.