It Is Only Where a Principal Consciously Ratifies That a Contract

question 21

True/False

It is only where a principal consciously ratifies that a contract can be effectively ratified.

---

Definitions:

Direct Labour Costs

Expenses associated with the wages of employees who are directly involved in the production of goods or services.

Nonmanufacturing Costs

Expenses not directly related to the production of goods, including sales, administration, and marketing costs.

Depreciation Factory Equipment

The systematic reduction in the recorded cost of factory equipment over its useful life, reflecting wear and tear or obsolescence.

Utility Costs Factory

The expenses for utilities (electricity, gas, water, etc.) incurred in the operation of a manufacturing plant or facility.