A Party to a Contract May Break the Contract in Various

question 95

Essay

A party to a contract may break the contract in various ways.Explain.

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Definitions:

Inventory

The raw materials, work-in-process products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.

Cost of Goods Sold

The costs directly associated with the manufacturing of goods a company sells, encompassing both the price of materials and the wages for labor.

Inventory

The total amount of goods or materials held in stock by a business, intended for sale or production.

Average Collection Period

The average amount of time it takes for a business to receive payments owed by its customers for credit sales.