Chris,a Carpenter,entered into a Contract with Doug for the Construction

question 31

True/False

Chris,a carpenter,entered into a contract with Doug for the construction of a garage on Doug's property for $5,000.Chris had constructed all of the garage,except the door,when he refused to complete the contract.
-Chris has substantially performed his part of the agreement,and would be entitled to payment of the contract price,less the amount necessary to finish the building.

---

Definitions:

Total Sales Revenues

The total amount of money generated from the sale of goods or services before any expenses are subtracted.

Total Costs

The sum of all costs associated with the production of goods or delivery of services, including both fixed and variable costs.

Cost-volume-profit Analysis

A financial management tool that helps in determining the effects of changes in costs and volume on a company's profits.

Fixed

Pertaining to costs or assets that do not fluctuate with changes in production level or business activity.