A New Promise Can Include a Past Consideration for It

question 19

True/False

A new promise can include a past consideration for it to be enforceable.

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Definitions:

Non-manufacturing Costs

Expenses that are not directly involved in the production of goods, including selling, general, and administrative expenses.

ABC Model

The Activity-Based Costing model, which allocates overhead costs to specific activities related to the production of goods or services for more accurate costing.

Resource Drivers

Factors or activities that significantly influence the consumption of resources in a process or operation.

Activity Drivers

Factors that influence the costs of business activities by measuring the amount of activity that drives costs.