Which of the Following Elements Are Required for a Contract

question 61

Multiple Choice

Which of the following elements are required for a contract to be legally binding and enforceable?

• A) offer
• B) acceptance
• C) consideration
• D) all of the above

Recognize the distinction between line and staff departments within the organizational structure.

Identify the roles and responsibilities of key accounting positions within an organization.

Distinguish between different types of costs (direct materials, direct labor, and factory overhead).

Comprehend the role of managerial accounting in planning, controlling, and decision-making processes.

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