Which of the Following Statements Is/are True in Relation to an Express

question 13

Multiple Choice

Which of the following statements is/are true in relation to an express contract?

• A)It occurs when parties clearly agree on the terms of the contract'.
• B)It can be achieved through documents or the spoken word or a combination of both.
• C)It refers to an agreement that is made quickly and effectively.
• D)All of the above.
• E)A and b only

---

Definitions:

Effective Federal Tax Rate

The average rate at which an individual or a corporation is taxed by the federal government, calculated by dividing the total tax paid by taxable income.

Tax-Deferred Retirement

Investment accounts, like 401(k)s or IRAs, that allow earnings to grow tax-free until funds are withdrawn, usually during retirement.

Flexible Spending Account

A type of savings account, usually for healthcare or dependent care expenses, that offers tax advantages by using pre-tax dollars.

Federal Taxes

Federal Taxes are imposed by the government on income, goods, services, and activities, used to fund public services and government operations.