which of the following is not a contract cost
Answers
Answer:
There was no intention to create legal relationship when A invites B to dinner.
According to Section-10 of the Indian Contract Act,1872 a contract to be valid must be made with an intention to create legal relationship.
Answer:
Contract cost
Explanation:
Contract costing is the monitoring of prices related to a specific agreement with a purchaser. for example, a company bids for a big creation challenge with a potential customer, and the two parties agree in a contract for a certain sort of compensation to the organisation.
contract costing is the monitoring of fees associated with a particular agreement with a customer. for example, a company bids for a huge creation venture with a potential consumer, and the 2 parties agree in a contract for a certain type of repayment to the organisation. This repayment is primarily based, as a minimum in part, on the expenses incurred by means of the business enterprise as a way to satisfy the terms of the settlement. The business enterprise must then song the charges associated with that agreement in order that it may justify its billings to the patron. The maximum typical forms of value compensation are referred to underneath.
fixed price contract
beneath a hard and fast charge contract, the company is paid a set general quantity for finishing the project, probably which includes development payments. underneath this association, the employer will want to engage in contract costing to bring together all of the costs applicable to the construction project, simply to see if the organization earned a earnings at the deal.
cost Plus settlement
Beneath a value plus settlement, the business enterprise is reimbursed for the expenses it incurred, plus a percent income or constant profit. below this arrangement, the business enterprise could be compelled below the terms of the contract to music the fees associated with the task, so that it could practice to the patron for compensation. relying on the size of the challenge, the patron may also send an auditor to observe the organization's contract costs, and may disallow a number of them.
which of the following is not a contract cost
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Which one of the following is not a contract cost
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