Duties Under a Contract

question 53

Multiple Choice

Duties under a contract:

• A) are freely assignable under all circumstances
• B) can be delegated,but only if there is a signed writing
• C) may be delegated without assigning rights
• D) may be delegated only if there is a corresponding assignment of rights

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Definitions:

Cash Break-even

The point at which a business generates just enough revenue to cover its operating cash expenses, without generating profit.

Fixed Costs

Fixed costs are expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Output Produced

The total amount of goods and services produced by an entity during a specific period.

Fixed Costs

Expenses that do not change with the amount of goods or services produced by a business, such as rent, salaries, and insurance.