Which of the Following Are Debts Incurred in an Initial

question 59

Multiple Choice

Which of the following are debts incurred in an initial contract?

• A) Secondary obligations
• B) Primary obligations
• C) Secondary promises
• D) Collateral promises
• E) Suretyship promises

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Definitions:

Forces of Competition

Forces of competition pertain to the external pressures in a marketplace from other firms that affect a company's ability to compete, often described in Porter’s Five Forces model.

Industry

A group of companies that operate in a specific sector of the economy, producing or supplying goods, services, or related technologies.

Strategic Plans

Long-term goals and the actionable steps designed to achieve an organization's objectives.

Business Plans

Documents that outline a company's strategy, financial forecasts, market analysis, and operational objectives.