Listed Below Are 5 Terms Followed by a List of Phrases

question 164

Multiple Choice

Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Freight-in

• A)Units grouped according to similarities.
• B)Captured by FIFO for perishable products.
• C)Considered a product cost.
• D)Reduces the quality of current period earnings information.
• E)Continuously records changes in inventory.

Analyze the legal effect of an illusory promise and gratuitous promises in contract law.

Explain the importance of legal detriment and legal benefit in the context of enforceable contracts.

Understand the role and application of promissory estoppel in contract law.

Recognize the application and exceptions to the doctrine of consideration, including past consideration and moral obligation.