A Unilateral Contract Is a Contract in Which

question 68

Multiple Choice

A unilateral contract is a contract in which:

• A) the terms of a contract have been fully performed.
• B) one of the parties to the contract does not have the capacity to contract.
• C) one party promises to do an act if the other party does something.
• D) all the requirements of a valid contract have been fulfilled.

Recognize effective study scheduling and strategies to improve study efficiency.

Understand the limitations of cramming and the benefits of distributed practice.

Comprehend the factors affecting happiness and well-being.

Acknowledge the role of active processing and engagement in effective learning.

---

Definitions:

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting the asset's wear and tear or obsolescence.

Depreciation Produces

An accounting process that allocates the cost of a tangible asset over its useful life, thus producing a systematic reduction in value to reflect wear and tear or obsolescence.

Decreasing Expense

Expenses that diminish over time, typically due to cost-cutting measures, operational efficiencies, or depreciation methods.

Expense Recognition Principle

An accounting principle that dictates expenses should be recognized in the same period as the revenues they helped to generate, ensuring financial statements accurately reflect business activities.