A Contract Must Be in Writing to Be Enforceable If

question 47

True/False

A contract must be in writing to be enforceable if its performance is impossible within one year.

Calculate the operating cycle of a business.

Understand and calculate the cost related to revolving credit agreements.

Evaluate the cost of forgoing prompt payment discounts.

Identify terms of sale and their implications on borrowing costs.

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Definitions:

Industrialized Nations

Countries that are characterized by a high level of economic development, advanced technological infrastructure, and a significant industrial sector.

Oil-Producing Nations

Countries that have significant oil reserves and whose economies are heavily dependent on the exploration and exportation of oil.

World Bank

A global financial organization that offers loans and grants to lower-income nations' governments to help them undertake infrastructure projects.

Water Shortfall

A situation where the available water resources are insufficient to meet the demands of a population or region.