Delia Enters Into,and Fails to Disaffirm Soon After Reaching the Age

question 14

Multiple Choice

Delia enters into,and fails to disaffirm soon after reaching the age of ma?jority,a contract with Electronics Stores,Inc.(ESI) .Later Delia attempts to disaffirm the contract.ESI files a suit against her.The court will most likely consider the contract ratified if it is

• A)executed.
• B)exculpatory.
• C)disaffirmed.
• D)rescinded.

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Definitions:

Absorption Costing

A bookkeeping approach that encompasses all production expenses, including both constant and fluctuating costs, in the price of a good.

Unit Cost

The calculated cost assigned to a single unit of product or service, comprising all variable and fixed costs.

Mixed Cost

A cost that contains both fixed and variable components and changes in total with the level of activity, but not proportionately.

Variable Cost

Expenses that change in proportion to the activity of a business, such as production volume or units sold.