Which Statement Is Correct About Unintentional Errors on Construction Contracts

question 24

Multiple Choice

Which statement is correct about unintentional errors on construction contracts?

• A)Unintentional underestimates or overestimates may not be errors.
• B)Errors are misstatements that should not have been made based on the information available at the time.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Four Utilities

Refers to the satisfaction or value that customers receive from a product, encompassing form, time, place, and possession utilities.

Marketing Creates

The process through which marketing efforts lead to the creation of value, demand, and brand identity.

Possession

The state or fact of owning, controlling, or having an object, property, or asset.

Form Utility

The value added by the process of transforming raw materials into a finished product that is more useful to consumers.