The Three Essential Characteristics of Valid Consideration Are

question 16

Multiple Choice

The three essential characteristics of valid consideration are:

• A) accuracy, brevity, and clarity.
• B) fulfillment of social, moral and ethical obligations.
• C) legality, adequacy, and the possibility of performance.
• D) intention, practices, and policies.

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Definitions:

Videoconference

A technology-enabled meeting in which participants in different locations interact via video and audio transmissions, allowing for real-time communication.

Cost Effective

Refers to a process, action, or methodology that achieves its objectives without wasting resources, ideally delivering the best possible outcome for the lowest cost.

Critical Issues

Significant problems or challenges that require immediate attention and resolution to prevent negative consequences.

Bottom Line

The final total of an account, balance sheet, or financial result, often referring to a company's net income or profit.