Which of the Following Is True of a Contract, the Object

question 20

Multiple Choice

Which of the following is true of a contract, the object of which has become unlawful after the creation of the contract?

• A) The contract is still legal as the object was legal at the time of creating that contract.
• B) The contract is illegal even if the parties don't complete the contractual agreement.
• C) The parties of the contract will be discharged from that contract.
• D) Both parties are still obligated to complete their contractual agreements.

Identify and calculate contribution margins and gross margins.

Understand and calculate the effects of fixed manufacturing overhead costs on net operating income.

Analyze the impact of selling price, variable cost, and fixed costs on net operating income.

Calculate break-even points in terms of sales dollars and units.