Which of the Following Is NOT an Explicit Cost

question 44

Multiple Choice

Which of the following is NOT an explicit cost?

• A)$200 to hire 2 gardeners for landscaping work
• B)$1500 to buy bricks for the driveway of your house
• C)$25 for lunch to serve to your workers
• D)The $100 in interest you lost by using your CD funds to pay for new pizza oven

Distinguish between express, implied, and conditional contracts and their enforcement.

Understand how contractual obligations can be discharged by performance, operation of law, or other conditions.

Recognize the use and implications of liquidated damages clauses and conditions related to contract termination.

Understand the definitions and applications of different types of conditions in contracts (express, implied, precedent, subsequent, concurrent).

---

Definitions:

Professional Degree

An advanced level of education aimed at preparing individuals for a specific profession, such as law, medicine, or engineering.

Business Owners

Individuals who own and often operate a business, assuming the financial risks and responsibilities associated with their venture.

Income Uncertainty

Refers to the unpredictability in the amount of money earned from one's job or investment, leading to financial instability.

New Business

An enterprise recently established to provide goods or services to a market.