MrGreen Contracts with Mr

question 49

Multiple Choice

Mr.Green contracts with Mr.Brown for $500 to landscape the home of Roy,who is Mr.Green's son.What is Roy's status in the contract with Mr.Green and Mr.Brown?

• A)Donee beneficiary
• B)Incidental beneficiary
• C)Corporate beneficiary
• D)International beneficiary

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Definitions:

Manufacturing Budgets

Financial plans that allocate how much a company intends to spend on production costs to produce a certain amount of goods within a period.

Sales Budget

A sales budget is a financial plan that projects future sales revenue, often broken down by product lines or regions, informing other budgeting decisions.

Credit Sales

Sales made by a business that are not paid for at the time of purchase but are billed to the customer to be paid at a later date.

Collections

The act of obtaining payment from customers or clients who have previously been billed, critical for cash flow management.