Under the Convention on Contracts for the International Sale of Goods,________

question 32

Multiple Choice

Under the Convention on Contracts for the International Sale of Goods,________ is commonly utilized by buyers because the initial performance called for in contracts typically rests with the seller.

• A)specific performance
• B)reclamation of goods
• C)suspension of performance
• D)avoidance of contract

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Definitions:

Direct Labor Efficiency

A measure of the productivity of workers involved directly in manufacturing, calculated as actual hours worked versus standard hours.

Direct Labor Price

Refers to the rate paid for the labor directly involved in the production of goods or services.

Ideal Standards

Benchmarks for performance or production that assume perfect efficiency and effectiveness, often used for planning purposes.

Favorable Variances

Differences between expected and actual financial performance that result in better-than-expected profitability or cost savings.