Which of the Following Is a Mutual Agreement,between All Parties

question 65

Multiple Choice

Which of the following is a mutual agreement,between all parties concerned,for the discharge of a valid existing obligation by the substitution of a new valid obligation on the part of the debtor or another?

• A)Novation
• B)Ratification
• C)Accession
• D)Proclamation

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Definitions:

Hard Drive

A data storage device used for storing and retrieving digital information, utilizing magnetic storage.

Variable Costs

Costs that vary directly with the level of production or output, such as materials and labor.

Cost of Goods Manufactured

The total production cost of goods completed and moved out of work-in-process inventory during a period, including labor, materials, and overhead.

Units Manufactured

The total number of units produced by a manufacturing process within a specific period.