A Product Line Is Generally Considered a Profit Centre

question 193

True/False

A product line is generally considered a profit centre.

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Definitions:

Repossess

The act of taking back possession of property, typically by a seller or lender from a buyer due to lack of payment.

Rejection of Goods

The act of refusing to accept delivery of goods because they are defective, do not meet the specifications, or are otherwise not in conformity with the contract terms.

Reasonable Time

In contract law, the time that may fairly, properly, and conveniently be required to do the task that is to be done, with regard to attending circumstances.

Tender

refers to an offer to perform an obligation or to pay an amount to fulfill the terms of a contract, or it can refer to the act of submitting such an offer.