Which of the Following Is TRUE Regarding an Open Price

question 12

Multiple Choice

Which of the following is TRUE regarding an open price term?

• A)It makes the contract unenforceable.
• B)The price may be fixed by the seller.
• C)The price is the "reasonable" price at the time of delivery.
• D)The price is set by the buyer.

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Definitions:

State Finance

Refers to the management of a government's revenue, expenditures, and debt load through various practices, including budgeting, taxation, and fiscal policy.

Sales And Excise Taxes

Taxes imposed on the sale of specific goods and services, with excise taxes being levied on particular items such as alcohol and tobacco.

Education

The systematic process of facilitating learning, acquiring knowledge, skills, values, and beliefs through the study and instruction.

Immediate Pain

Pain that occurs right after an injury or onset of a disease, requiring prompt attention.