If Applicable Criteria Are Met,oral Contracts for Goods Are Enforceable

question 80

Multiple Choice

If applicable criteria are met,oral contracts for goods are enforceable even if they would normally have to be in writing.

• A)Consumer
• B)Customized
• C)Retailed
• D)Wholesale
• E)Collateral

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Definitions:

Controllable Costs

Costs that can be influenced or changed by management decisions in the short term.

Master Budget

A comprehensive financial planning document that consolidates all of a company’s individual budgets, including sales, production, and expenses, for a specific period.

Flexible Budgets

Budgets that adjust or flex with changes in volume or activity, allowing for more accurate comparisons to actual results.

Planning and Control

Processes used by management to establish objectives, execute plans to meet those objectives, and monitor progress.