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Which of the following methods could be used to calculate GDP?
Privity of Contract
The relationship between parties in a contract that allows them to sue each other but prevents any third party from doing so.
Novation
The act of replacing an existing contract with a new one, wherein all parties agree to make the switch.
Factoring
A financial transaction where a business sells its accounts receivable to a third party at a discount to secure immediate capital.
Assignment
Assignment refers to the transfer of rights or property from one party to another, commonly seen in contracts and legal agreements.
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