In a Unilateral Contract,a Promise Is Exchanged for an Act

question 64

True/False

In a unilateral contract,a promise is exchanged for an act or forbearance to act.

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Definitions:

Total Expense

The sum of all costs and expenses incurred by a business during a specific period.

Expected Costs

Anticipated costs based on future events, often derived from historical data and forecasting.

Activity Levels

The volume of production or the level of sales activity within a company, which can affect various costs and pricing strategies.

High-low Method

An accounting technique used to estimate variable and fixed costs by analyzing the lowest and highest levels of activity and their associated costs.