The Revenues Budget

question 10

Multiple Choice

The revenues budget:

• A) Estimates overhead costs
• B) Matches revenues and expenses
• C) Provides estimated selling prices, volumes, and total revenues
• D) Only estimates the volume of units sold

Identify and explain duress in the context of entering contracts.

Differentiate between mistakes, puffery, and fraud in contract law.

Assess the legal remedies available for victims of fraudulent misrepresentations, undue influence, and duress.

Apply knowledge of contract law to analyze and assess the validity of contracts influenced by misrepresentation, undue influence, or duress.

---

Definitions:

Egoism

A theory in ethics that treats self-interest as the foundation of morality.

Altruism

Altruism is the selfless concern for the well-being of others, leading individuals to perform acts of kindness without expecting personal gain.

Social Loafing

The phenomenon of a person exerting less effort to achieve a goal when they work in a group than when working alone.

Social Facilitation Effect

The tendency for people to perform differently when in the presence of others than when alone, often showing improved performance on tasks.