Which of the Following Is Most Likely a Want Rather

question 139

Multiple Choice

Which of the following is most likely a want rather than a need?

• A) shelter
• B) water
• C) transportation
• D) steak
• E) clothing

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Definitions:

Accord And Satisfaction

A legal agreement between parties to settle a dispute where the debtor agrees to pay a defined amount less than the creditor claims, which once paid, fulfills the obligation.

Accord And Satisfaction

A legal contract whereby a dispute is settled by the parties involved agreeing to give and accept something in settlement of the claim and thus satisfying both sides.

Unliquidated Debt

An obligation whose precise financial amount is yet to be established.

Liquidated Debt

A debt with a specific, fixed amount that has been agreed upon by all parties involved.