Under what system do a group of doctors and hospitals in a designated area contract with an insurer to provide medical services at a prearranged cost to the insured?

Requirements contracts are not valid contracts as they are illusory.

a. true b. false

Which of the following users of financial statements primary interest is likely to be the ability of the business to pay its bills?

(a) Competitors. (b) Customers. (c) Government. (d) Suppliers.