If an Agreement Is Not Voluntary and Knowing,it Will Be

question 53

True/False

If an agreement is not voluntary and knowing,it will be either void or voidable.

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Definitions:

Equivalent Units

A concept used in cost accounting to represent the amount of work done on partially completed goods, expressed in terms of fully completed units.

First-in

A reference often used in inventory management, indicating that the first items produced or acquired are the first ones to be sold or used.

Materials

Substances or components used in the manufacturing or production of goods.

Equivalent Unit

A measure used in process costing that converts partially completed units into a number of fully completed units for accounting purposes.