Implied warranties under the Code:
a. depend on the type of contract or sale entered into.
b. are a result of specific language in the sales contract.
c. continue the common law rule of caveat emptor.
d. are intended to protect the seller rather than the buyer.
a
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The basic rules of strict liability apply in determining the existence and nature of the relationship of principal and surety.
Answer the following statement true (T) or false (F)
Individuals who benefit without paying are called ______.
A. consumers B. free riders C. externalities D. resource leeches
______ is a process-mapping technique used to analyze and design the flow of materials and information across multiple processes.
A. A value stream map (VSM) B. Simulation C. A service blueprint D. A process chart
Miami Corp. has an operating income of $120,000, average invested assets of $600,000, and a cost of capital of 7%. What is the residual income?
A. $78,000 B. $42,000 C. $166,667 D. $100,000