Which of the Following Is Not an Example of a Contract

question 152

Multiple Choice

Which of the following is not an example of a contract?

• A)A verbal agreement for the sale of a car where neither the money nor the car has yet changed hands
• B)A verbal agreement to work for someone starting next week
• C)An implied promise to pay for a meal when you order it
• D)An agreement not to sue someone for negligence in exchange for their promise to pay you a specified amount
• E)A written promise to give your husband a ring for Christmas

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Definitions:

Monthly Expenses

Recurring costs incurred by a business or individual that are expected and budgeted on a monthly basis.

Accounts Payable

The amounts a company owes to suppliers for goods and services purchased on credit.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.

Collections

The process of pursuing payments of debts owed by individuals or businesses, typically referring to the accounts receivable department's efforts.