Which of the Following Statements Is Most Correct

question 25

Multiple Choice

Which of the following statements is most correct?

• A)A contract is a type of agreement.
• B)The terms 'contract' and 'agreement' mean the same thing.
• C)An agreement is a legally enforceable contract.
• D)Not all contracts are agreements.

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Definitions:

Startup Entrepreneur

An individual who initiates, organizes, and launches a new business, typically characterized by innovation and significant risk.

Bootstrapper

An individual who starts a business using limited resources and without significant external financial support.

Resource Ownership

The legal rights to possess, use, and dispose of resources such as land, buildings, goods, or intellectual property.

Corporation

A legal entity that is separate from its owners, with its own rights and responsibilities, allowing it to own property, sue or be sued, and enter contracts.