Question

Using contractions and slang is acceptable in a number of business settings. Typically, it is preferred when you know the party you are contacting very well. True or False?

Answer 1

Yes it is preferred when you know the person or people you are chatting with.  You want to know who the person is, and how they act before you start using slang.  So the answer is true.

Answer 2

True

Step-by-step explanation:

Designers and other art related business specially are more inclined to using a more informal language or approach during their negotiations, but it is not limited to that, only. And yes, it's better for you to know who you're dealing with to know if it's ok before you start using slang.