With Regard to a Unilateral Contract, the Offeree Does Not

question 13

True/False

With regard to a unilateral contract, the offeree does not accept the offer by express agreement, but rather by performance.

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Definitions:

Materials Standards

Materials Standards define the quality, size, and composition specifications that materials used in production must meet to ensure consistent product quality.

Labour Hours

Labour hours refer to the total number of hours worked by employees, typically used to measure workforce output or allocate direct labor costs in manufacturing.

Materials Quantity Variance

This measures the difference between the actual amount of materials used in production and the standard amount expected to be used, based on the level of output.

Standard Quantity

The benchmark or predetermined amount of materials expected to be used in the production of a good or service.