An agreement between Pinnacle Oil Company and Omega Refinery, Inc., requires Omega's bank to pay Pinnacle on receipt of invoices and bills of lading. This letter of credit is
A. a formal contract.
B. no contract.
C. an implied contract.
D. a quasi contract.
Answer: A
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A recent study conducted by CMOR study indicated that consumers prefer ________ surveys versus the ________ method of surveys
A) telephone; Internet B) mail; telephone C) Internet; mail D) Internet; telephone
The entry to record a sales return from a customer would require a(n)
A) decrease to Sales. B) increase to Sales. C) decrease to Sales Returns and Allowances. D) increase to Sales Returns and Allowances.
Harvey was at his college reunion where he noticed Raymond, his former roommate. Harvey and Raymond did not get along well at the reunion. Offended by something Raymond mentioned, Harvey punched him in the face and broke his jaw. Harvey is liable for ________.
A. breach of duty of care B. disparagement C. battery D. assault
Personal selling
A. is often a company's largest single operating expense. B. is the least profitable business decision for any company. C. requires only that the sales rep have an engaging smile, a big expense account, and the ability to get along well with people. D. is important to business firms, but only about 1 percent of the U.S. labor force does personal selling work. E. uses the same techniques around the globe with little variation.