The Ratification of a Contract by the Principal Must Be

question 12

True/False

The ratification of a contract by the principal must be done in writing.

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Definitions:

Credit Side

The right side of an accounting ledger where increases in liabilities, revenues, and equity accounts are recorded.

Short Term Profitability

The ability of a company to generate profit over a brief period, often evaluated on a quarterly or annual basis.

Marketing Costs

Expenses related to promoting and selling products or services, including advertising, product promotion, and sales force expenses.

Design Costs

The expenses associated with the conceptualization and development phases of product creation, including research, design, and prototyping.