Farr Company Had the Following Information

question 32

Multiple Choice

Farr Company had the following information:
- What is the markup based on prime costs?

• A) 300.0%
• B) 133.3%
• C) 50.0%
• D) 166.7%

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Definitions:

Harsh Terms

Unfavorably stringent conditions or stipulations in a contract or agreement that may seem unfair to one party.

Implied-in-Fact Contract

An agreement created by the actions or circumstances of the parties involved rather than by written or spoken words.

Gambling Illegal

The prohibition by law of the practice or act of wagering, betting, or playing games of chance for money or other stakes.

Exculpatory Clause

A contract provision that releases one party from liability or legal consequences of their actions to another party involved.