A Contract Can Exist Only When There Is an Agreement

question 86

True/False

A contract can exist only when there is an agreement resulting from both an offer and an acceptance.

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Definitions:

Merchandising

The activities involved in promoting and selling products, often used in retail to refer to the purchase of goods for resale.

Manufacturing Income Statement

A financial statement showing the income, expenses, and profits of a manufacturing company, highlighting the cost of goods manufactured.

Cost Of Goods Sold

The direct costs related to the production of the goods sold by a company, including materials and labor.

Direct Materials

Costs of raw materials that are directly used in the production of a product, easily traceable to the product being manufactured.