A Contract May Not Be Enforceable If One Party Is

question 1

True/False

A contract may not be enforceable if one party is aware that the other party made a mistake of fact.

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Definitions:

Direct Costing

A pricing strategy that only accounts for direct costs in the production of goods, excluding fixed overhead expenses.

Indirect Costing

A method of accounting that allocates indirect costs to products or services, often used in costing overheads.

EBITDA

Term for earnings before interest, taxes, depreciation, and amortization; operating income expressed by adding back depreciation and amortization expense.

Operating Income

The profit realized from a business's operations after deducting operating expenses from gross profit.