Ratification Ends the Right to Rescind a Contract

question 21

True/False

Ratification ends the right to rescind a contract.

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Definitions:

Operating Assets

Assets used by a business in its day-to-day operations to generate income, including property, plant, and equipment but excluding investments and non-operational assets.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment compared to its cost.

Operating Assets

Resources owned by a business that are used in its day-to-day operations to generate revenue, such as machinery, buildings, and equipment.

Net Operating Income

The profit a company generates from its operations, before taxes and interest, calculated as gross income minus operating expenses.