________ Is the Mutual Agreement of Less Than What Has

question 10

Multiple Choice

________ is the mutual agreement of less than what has been billed to the debtor.

• A)Accord and satisfaction
• B)Bankruptcy
• C)Accord
• D)Consideration

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Definitions:

Services

Services like accounting, banking, cleaning, consulting, education, insurance, professional knowledge, medical care, and transportation that cannot be physically touched.

Goodwill

An intangible asset on a company's balance sheet that represents the premium paid over the fair market value of the acquired assets in a business acquisition.

Tangible Capital

Physical assets that are used in the operating activities of a business, such as buildings, machinery, and equipment.

Economic System

The organized way a country allocates resources and distributes goods and services in the national community.