If a Price Quotation Contains a Mistake in the Adding

question 37

True/False

If a price quotation contains a mistake in the adding of a number of fig?ures,the contract may not be enforceable.

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Definitions:

Variable Costs

Expenses that vary directly with the volume of production or sales.

CVP Graph

A Cost-Volume-Profit (CVP) graph visually represents the relationship between costs, volume of production, and profit.

Total Expense Line

Represents the aggregate of all expenses, both fixed and variable, incurred by a business during a specified accounting period.

Total Revenue Line

A financial metric showing the total income generated from ordinary activities before any expenses are subtracted.