Most jurisdictions hold ________ liable if the agent injures someone while on a dual-purpose mission.
A. just the principle
B. just the agent
C. both the principal and the agent
D. neither the principle nor the agent
Answer: C
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Which of the following is a challenge a manager will deal with in the 21st century?
A. Sustainability B. Employee revolts C. Economic stagnation D. Leadership vacuums E. Religious issues
Discount on Bonds Payable is a balance sheet item for Covington Products Company. How would it most likely be classified on the balance sheet?
a. Current liability b. Long-term liability c. Current asset d. Contra-liability
Fresh Farm Produce Co. has examined transportation costs and found that shipping its fruits and vegetables by rail to distant markets would cost them only $89,000, while airfreight would cost $250,000. The costs of the actual fruits and vegetables are the same for each transportation mode. In the context of implementing the total cost approach, what should Fresh Farm Produce do?
A. It should conduct marketing research to determine which fruits and vegetables customers want most. B. It should immediately switch to airfreight because it is clearly a faster mode of transportation. C. It should try to determine other physical distribution costs before deciding on whether to use airfreight. D. It should ship with airfreight and store the fruits and vegetables in warehouses. E. It should immediately switch to rail to save money.
Jeff purchased in good faith a warehouse receipt for 1,000 pairs of running shoes without notice of any defense to it, for value, and in the regular course of his business. Unknown to Jeff, the goods had been stolen from Jane and delivered to the warehouse that issued the receipt purchased by Jeff. Which of the following statements is true?? A) Jeff holds a duly negotiated document of title and
is not subject to Jane's title. B) Jane is entitled to the goods and will prevail over Jeff. C) Jeff is not a holder of a duly negotiated document. D) Jane cannot recover the goods but can sue the warehouse for conversion.