Which of the Following Statements Best Describes a By-Product

question 52

Multiple Choice

Which of the following statements best describes a by-product?

• A)A product with a value that can easily and accurately be determined.
• B)A product that has a greater value than the main product.
• C)A product created along with the main product whose sales value does not cover the cost of its production.
• D)A product that usually produces a small amount of revenue when compared to the main product revenue.

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Definitions:

Perfect Tender Rule

A principle in commercial law that a seller's performance must exactly meet the contract specifications or the buyer can reject the goods.

Commercial Unit

A term used in the Uniform Commercial Code referring to a standard of measure, item, or a set of items that are treated as a single unit for the purposes of a transaction.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, intended to standardize laws across states.

Perfect Tender Rule

A principle in commercial law that requires goods delivered under a sales contract to exactly meet the terms of the contract in quality, quantity, and manner of delivery.