Under the UCC,an Agreement Modifying a Contract Needs New Consid?eration

question 2

True/False

Under the UCC,an agreement modifying a contract needs new consid?eration to be binding.

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Definitions:

Variable Expense Ratio

A ratio computed by dividing variable expenses by sales.

Break-even Analysis

A calculation to determine the sales volume at which total revenues equal total costs, indicating no profit or loss.

Contribution Margin Ratios

The ratio of contribution margin (sales minus variable costs) to sales revenue, indicating the percentage of sales revenue that exceeds variable costs.

Break-even Point

The production level at which total revenues equal total expenses, resulting in no profit or loss.