For a Unilateral Mistake to Make a Contract Voidable,either (1)the

question 11

True/False

For a unilateral mistake to make a contract voidable,either (1)the nonmistaken party must have caused or had reason to know of the mistake or (2)enforcement of the contract must be unconscionable.

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Definitions:

Activity-Based Budgeting (ABB)

A budgeting approach that determines the cost of activities necessary for producing a product or service, aiming to improve cost efficiency.

Activity-Based Costing (ABC)

A costing methodology that assigns overhead and indirect costs to specific activities, thereby providing more accurate cost information.

Sales Volume

Refers to the number of units of product or service sold by a company over a specific time period, indicating business activity level.

Unfavourable Variance

A financial metric indicating that actual costs were higher or revenues were lower than the planned or standard amounts.