Macro Corporation and Micro,Inc

question 14

Multiple Choice

Macro Corporation and Micro,Inc. ,enter into an agreement.To consti?tute a contract,the terms

• A)must all be express.
• B)must all be implied.
• C)may be express,implied,or a mix of both.
• D)may be express or implied,but not both.

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Definitions:

Committed Cost

Expenses that a company has formally pledged or is obligated to incur, often fixed costs related to contracts or legal commitments.

Firm

A business entity involved in commercial, industrial, or professional activities, whether incorporated or not.

Machine Maintenance

The routine or periodic upkeep and repairs of machinery to ensure its optimal functioning and prevent breakdowns.

Relevant Range

The range of activity or volume over which the assumptions about cost behavior are valid.