A Manufacturer Produced 7,500 Total Units

question 194

True/False

A manufacturer produced 7,500 total units.The cost of goods manufactured is $88,000 and the cost of goods sold is $71,000.The unit product cost is $9.47.

---

Definitions:

Concealment

In contract law, taking active steps to prevent another from learning the truth.

Nondisclosure

The obligation to keep certain information confidential and not share it without authorization, typically enforced through agreements.

Innocent Misrepresentation

a false statement made without knowledge of its falsity, but not intended to deceive, which may allow for some remedies if it leads another party to enter into a contract under false pretenses.

Scienter

In cases of fraud and deceit, the word means knowledge on the part of the person making the representations, at the time when they are made, that they are false. In an action for deceit, scienter must be proved.