'An agreement which commits the firm to a set of fixed conditions in the future regardless of what happens to profits or the economy as a whole' is a definition of a:
A) commitment.
B) potentially hazardous agreement.
C) conditional contract.
D) contingent liability.

Question

Quizplus · Accepted Answer

This definition describes a "commitment," which is an agreement that binds a firm to specific terms or actions in the future, irrespective of changes in profitability or economic conditions.

'An Agreement Which Commits the Firm to a Set of Fixed