Which of the following statements regarding contracts is incorrect? a. a contract must be written to be valid. b. for a business that provides services, the performance obligation is generally satisfied when the service provider has substantially completed the service for the customer. c. identifying the contract with the customer is the first step of the revenue recognition model. d. a contract is an agreement between two parties that creates enforceable rights or performance obligations.

Upper a report about the decline of western investment in third world countries included this: "after years of daily flights comma several european airlines halted passenger service. foreign investment fell 400 percent during the 1990 s." what is wrong with this statement? choose the correct answer below. a. if foreign investment fell by 100 % comma it would be totally eliminated comma so it is not possible for it to fall by more than 100 %. b. the actual amount of the decrease in foreign investment is less than 100%. c. if foreign investment fell by 100%, it would be cut in half. thus, a decrease of 200% means that it would be totally eliminated, and a decrease of more than 200% is impossible. d. the statement does not mention the initial amount of foreign investment.