A(n)________ Contract Does Not Exist,but Is Imposed by the Court

question 37

Multiple Choice

A(n) ________ contract does not exist,but is imposed by the court as an equitable remedy in the interests of fairness and justice.

• A)quasi-
• B)implied-in-fact
• C)informal
• D)executory

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Definitions:

Direct Manufacturing Cost

Expenses directly related to the production of goods, including labor and materials.

Incremental Manufacturing Cost

The extra expense associated with manufacturing an additional unit of a product.

Contribution Margin

The amount remaining from sales revenue after variable expenses are subtracted, contributing towards covering fixed costs and profit.

Variable Selling Expenses

Costs that fluctuate with the level of sales, such as commissions or shipping fees.