Which of the Following Statements About Executory Contracts Is False

question 12

Multiple Choice

Which of the following statements about executory contracts is false?

• A) Executory contracts are contracts in the process of begin filled.
• B) A purchase order is an example of an executory contract.
• C) Executory contracts are recognized as liabilities when the company receives the benefits
• D) Executory contracts are contingent obligations.

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Definitions:

Triangular Theory of Love

Theory that all loving relationships can be described according to three dimensions: intimacy, commitment, and passion.

Intimacy

A deep, personal connection characterized by emotional closeness, trust, and mutual understanding between individuals.

Commitment

The state or quality of being dedicated to a cause, activity, or significant other.

Initiation Norm

A social or cultural rule that governs how and when new activities or actions are begun within group or societal contexts.