A Promise Exchanged for an Act Is an Example of A

question 45

Multiple Choice

A promise exchanged for an act is an example of a:

• A)a bilateral contract.
• B)a unilateral contract.
• C)an implied contract.
• D)a quasi-contract.

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Definitions:

Intangible Assets

Assets that cannot be physically touched or held, such as patents, trademarks, and goodwill.

Tangible Assets

Physical and material assets, such as machinery, buildings, and land, that have a value and can be seen and touched.

Comparable Business

A company or business model similar in size, scope, or industry to another, used for benchmarking or competitive analysis.

Expense Ratios

A measure of what an investment fund charges its shareholders for portfolio management, expressed as a percentage of the fund's assets.