Time Sheets Are Not Considered When Forecasting Income

question 24

True/False

Time sheets are not considered when forecasting income.

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Definitions:

Executory Contract

A contract under which both parties to the agreement have obligations that remain to be fulfilled; if one side has completed its obligations, the contract is no longer executory.

Unilateral And Executed

Unilateral refers to an action or agreement made or performed by one party; executed means that the action has been completed or the agreement has been fully performed.

Implied Contract

An agreement created by actions of the parties involved rather than written or spoken words, indicating an unexpressed understanding or assumption of agreement.

Quasi-contract

A legal concept where a court imposes an obligation on a party to prevent unjust enrichment, even though no actual contract exists.