In an Implied-In-Fact Contract,the Contract Is Inferred on the Basis

question 37

True/False

In an implied-in-fact contract,the contract is inferred on the basis of the behavior of the parties.

Comprehend the concept and applications of cloud computing.

Explain the workings of speech recognition software.

Understand the features and functionalities within word processing software, including find and replace, built-in styles, and themes.

Differentiate between synchronous and asynchronous communication tools.

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Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset over its useful life to date.

Book Value

Represents the value of an asset according to its balance sheet account balance, calculated as the original cost less any depreciation, amortization, or impairment costs.

Salvage Value

The projected remaining value of an asset when it reaches the end of its operational lifespan.

Residual Value

The estimated value of an asset at the end of its useful life.