The _____ Clause of a Contract Generally Specifies Who Is

question 59

Multiple Choice

The _____ clause of a contract generally specifies who is responsible if there are injuries or damage, over the course of the contract, and any damages to be paid.

• A)supply and delivery
• B)key performance indicators and compensation
• C)definitions
• D)free trade areas
• E)liability

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Definitions:

Loan

A sum of money borrowed that is expected to be paid back with interest.

Economic Profit

The financial gain achieved by a firm or individual after deducting both explicit (direct) and implicit (indirect, such as opportunity costs) costs from total revenues.

Investment

Committing funds to assets with the goal of earning returns over time.

Interest Rate

The percentage charged on the total amount borrowed or earned on investments, representing the cost of borrowing or the gain on saved or invested money.