Veronica Entered into a Contract with a Local Car Dealer

question 2

Multiple Choice

Veronica entered into a contract with a local car dealer to have a new convertible sports car delivered to her daughter, Jasmine, as a college graduation present. In this contract, Jasmine is:

• A) an incidental beneficiary.
• B) a donee beneficiary.
• C) a creditor beneficiary.
• D) an assignor.

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Definitions:

Production Opportunities

Situations or contexts in which a company has the potential to increase its output, efficiency, or product offerings.

Desired Profit

The target profit a company aims to achieve within a specific period.

Budget Standard Cost

Expected cost of goods or services set during a budgeting process, which serves as a guideline for managing and controlling future costs.