A[n] ________ Beneficiary Is a Third Party to a Contract

question 50

Multiple Choice

A[n] ________ beneficiary is a third party to a contract who is intended to be benefited directly from the contract made by the contracting parties.

• A)Ancillary
• B)Incidental
• C)Preferred
• D)Intended
• E)Collateral

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Definitions:

Operating Cost

The expenses associated with the day-to-day operations of a business, including costs for materials, labor, and overhead.

Useful Life

Useful life is the estimated duration a fixed asset is expected to be economically usable, affecting its depreciation calculation and financial planning.

Injection Mold

A manufacturing process in which molten material is injected into a mold to produce parts or products of specific shapes and sizes.

Value-based Pricing

A pricing approach that sets the cost of a product or service according to its perceived worth to the consumer, rather than the expenses involved in its creation.