Which of the Following Is the Best Description of Discharge

question 3

Multiple Choice

Which of the following is the best description of discharge by waiver?

• A)One party leads the other to reasonably believe that strict performance will not be insisted upon.
• B)A new agreement is substituted for the old by the parties.
• C)Both parties abandon their original agreement while it is still executory.
• D)A party who has already performed their obligation agrees to relieve the other party from performing their obligation in return for their doing something different.

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Definitions:

Direct Labour

The work of factory employees that can be directly associated with producing specific goods or services.

Variable Manufacturing Overhead

Indirect manufacturing costs that vary with the level of production, such as utilities for the production area.

Fixed Manufacturing Overhead

Expenses that do not vary with the level of production, such as rent, salaries, and depreciation of manufacturing facilities.

Variable Distribution Costs

Expenses related to the delivery or distribution of a product that vary in proportion to the volume of units sold.