Action That Claims That One Party Has Breached an Agreement

question 22

Multiple Choice

Action that claims that one party has breached an agreement by failing to fulfill an obligation is a __________.

• A) contract
• B) writ of certiorari
• C) tort
• D) fraud

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Definitions:

FIFO

An inventory valuation method that assumes the first items placed in inventory are the first sold, standing for "First In, First Out."

Weighted Average

A calculation method that accounts for the varying degrees of importance or weights of different elements in a dataset, often used in financial metrics and inventory costing.

Moving Average

A moving average is a statistical method used to analyze data points by creating a series of averages of different subsets of the full data set.

Net Method

An accounting method of recording purchases at the net of any trade discounts and rebates.