This Type of Contract Is Sometimes Referred to as an Implied-In-Law

question 79

Multiple Choice

This type of contract is sometimes referred to as an implied-in-law contract but are not actually contracts.

• A) Fictional-contracts
• B) Quasi-contracts
• C) Implied-in-fact contracts
• D) Expression contracts or implied-in-fact contracts
• E) Simple contracts and quasi-contracts

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Definitions:

Variable Costs

Expenses that change in proportion to the level of production or sales activity.

Composite Units

A measure used in accounting to bundle goods or services together for the purposes of inventory management, costing, or sales analysis.

Fixed Costs

Costs that remain constant regardless of a business's operational levels, like lease payments, wages, and coverage fees.

Break-Even Point

The point at which total costs and total sales are equal, resulting in no net loss or gain for the business.