When a Business Is Concerned About Selling to Minors Because

question 29

Multiple Choice

When a business is concerned about selling to minors because of their right to disaffirm contracts,the business might protect itself by:

• A) getting the minor to sign an agreement not to disaffirm.
• B) requiring an adult co-signer.
• C) requiring a court-appointed guardian to be named.
• D) using a layaway system until the minor turns 18.

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Definitions:

Activity-Based Costing

A costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.

Profitability

An indicator of a business's ability to generate earnings compared to its expenses and other relevant costs incurred during a specific period of time.

Order Management Process

A sequence of steps designed to effectively take, process, and fulfill orders to customer specifications, ensuring a cohesive flow from receipt to delivery.

Order Management System

A software used to track orders from inception to delivery, streamlining the order processing for businesses.