The Doctrine of Promissory Estoppel Is Used When the Requirements

question 7

Multiple Choice

The doctrine of promissory estoppel is used when the requirements of are not met.

• A) garnishment
• B) acceptance
• C) consideration
• D) restatement

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Definitions:

Operating Cycle

The duration of time from the acquisition of goods for resale or the start of a service to the receipt of payment from customers.

Cash Cycle

The period between the outlay of cash for raw materials and receiving payment from customers, reflecting the efficiency of a company's cash flow management.

Quarterly Receipts

Refers to the income or revenue received by a business, organization, or government on a quarterly basis.

Quarterly Disbursements

The act of paying out or distributing company funds, typically dividends or investments, on a quarterly basis.