A Contract Requires

question 37

Multiple Choice

A contract requires:

• A) an offer.
• B) an acceptance.
• C) both an offer and an acceptance.
• D) an agreement manifested by the written or spoken words of the parties.

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Definitions:

Transforms Forecasts

Involves using mathematical transformations on historical data to make future predictions.

Projected Demand

An estimate of the future demand for a product or service, based on historical data, market trends, and forecasting techniques.

Total Supply Chain

The entire sequence of processes involved in the production and distribution of a commodity, from raw materials to the final product delivered to the end user.

Profitability

The ability of a business to generate earnings compared to its expenses and other relevant costs incurred during a specific period of time.