A House-Painting Contract Is Discharged If Continual Rain Makes It

question 15

True/False

A house-painting contract is discharged if continual rain makes it impossible to complete the painting by the time specified in the contract.

---

Definitions:

Margin of Safety

The difference between actual sales and the break-even point, indicating the extent to which sales can decline before losses begin.

Net Operating Income

The profit a company generates from its core business operations, excluding expenses and revenues from non-operating activities.

Single Product Firm

A company that specializes in the production and sale of one specific product or type of product.

Price Increase

A situation where the selling price of goods or services is raised by a company.