Which of the Following Is in Effect Not a Contract

question 64

Multiple Choice

Which of the following is in effect not a contract at all?

• A) A voidable contract
• B) An executory contract
• C) An implied contract
• D) An executed contract
• E) A void contract

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Definitions:

Product Cost

The total expense incurred in creating a product, including materials, labor, and overhead costs.

Indirect Cost

Expenses that are not directly attributable to a specific product or service, such as administrative and facility costs.

Direct Cost

Expenses that can be directly traced to the production of a specific good or service, such as materials and labor.

Period Cost

Costs that are expensed in the period in which they are incurred; often administrative or selling expenses, not directly tied to production.