If Goods Identified to a Contract Are Destroyed Through No

question 33

True/False

If goods identified to a contract are destroyed through no fault of either party, both parties are excused from performance.

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Definitions:

Average Inventory

An accounting metric that estimates the value or quantity of inventory over a period to assess company efficiency.

Accounts Receivable

Funds that customers owe to a business for the products or services received but not yet paid for.

Aggregate Demand

The entirety of consumer and business demand for goods and services in an economy, assessed at an overall price level within a defined time span.

Decrease

A reduction in the quantity, size, or extent of something.