Which of the following is not true regarding the contracts of incompetent persons?
A) An incompetent person is liable for necessaries.
B) Unlike a minor, an incompetent person can never ratify a contract.
C) To avoid a contract, a person need not be permanently incompetent.
D) A person is competent unless he is unable to understand the nature and effect of his act.
B
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Explain how a company would utilize a single-product strategy and a diversification strategy (including a vertical integration strategy). Provide an example of a company that uses each type of strategy.
What will be an ideal response?
Which of the following is most likely a true statement about baby boomers?
A) They are the first generation to have grown up with computers. B) They constitute the largest demographic group in the United States. C) They were born between 1965 and 1976. D) They are the most educated generation of Americans. E) They are the wealthiest generation in U.S. history.
Which of the following statements about service department costs is not true?
A) Service department costs include the costs of providing services to other departments within an organization. B) Service department costs are not allocated to other service departments. C) Service department costs should be allocated using an allocation base or cost driver related to the costs incurred. D) Service department costs do not include the costs of providing services to external customers.
The value of doing competitive strength assessment is to
A. learn if the company's market opportunities are better than those of its rivals. B. learn whether a company has a distinctive competence. C. determine whether a company's resource strengths are sufficient to allow it to earn bigger profits than rivals. D. determine how competitively powerful are the company's core competencies E. learn how the company ranks relative to rivals on each of the important factors that determine market success and ascertain whether the company has a net competitive advantage or disadvantage vis-à-vis key rivals.