Which of the Following Gratuitous Promises Is/are Enforceable by Statute

question 80

Multiple Choice

Which of the following gratuitous promises is/are enforceable by statute?

• A)A good-faith contract modification in a contract for the sale of goods
• B)A written offer signed by a merchant to buy or sell goods that assures it will be kept open for one month
• C)A renunciation of a claim in a written waiver that is signed and delivered by the aggrieved party when the ^{contract involves a sale of goods}
• D)All of these are enforceable by statute.

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Definitions:

Direct Labor Costs

Expenses associated with the wages and benefits of employees who are directly involved in the production of goods or services.

Budgeted Manufacturing Overhead

Budgeted manufacturing overhead is the estimated amount of indirect costs that are expected to be incurred in the manufacturing process during a specified period.

Direct Labor-hour

A measure of the total amount of time worked by employees directly involved in manufacturing a product or providing a service.

Budgeted Manufacturing Overhead

The estimated overhead costs a company anticipates for manufacturing activities within a specified budget period, used for planning and control purposes.