A Choice-Of-Law Clause Is a Provision in a Contract That

question 65

True/False

A choice-of-law clause is a provision in a contract that excuses a party from liability for nonperformance due to "acts of God."​

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Definitions:

Cost Accounting Systems

Methods and procedures used for collecting, classifying, analyzing, and allocating costs associated with a process, product, or project.

Process Cost System

An accounting system used to track and allocate costs of production in industries where goods are produced uniformly in continuous processes.

Job Order Cost

An accounting method that tracks the expenses of manufacturing a specific job or batch of goods, including materials, labor, and overhead.