Which of the following is a common drawback of a non-equity alliance?
A. lack of flexibility for the partners
B. difficulty terminating the contract
C. lack of trust between partners
D. difficulty initiating the contract
Answer: C
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Second Chance is a paperback book exchange. For each book trade, the buyer pays a $1 trade fee. Books that are sold and not traded cost half of their original purchase price. The store has total assets of $126,000 and current assets of $40,200. Its net sales equaled $35,000, and its net profit after taxes was $9,000. Calculate the store's net profit percentage.
A. 25.7% B. 21.7% C. 22.4% D. 7.1% E. 27.7%
If overhead is underapplied, it means that individual jobs have been charged too much during the year and the cost of goods sold reported is too high.
Answer the following statement true (T) or false (F)
The two cases of Bank of Montreal v. Bal and Corey Developments, deal with the application of the parol evidence rule. Which of the following best explains the different results in these cases?
A) In Corey Developments, a party was trying to get out of a guarantee. In Bal, a party was trying to avoid a warranty. B) Corey involved a greater inequality of bargaining power than the other two cases. C) The contract in Corey Developments contained an entire agreement clause, but Bal did not. D) In Corey Developments, there was very clear external evidence of representations contradicting the terms of the contract, but in Bal the plaintiff's evidence was very weak E) Corey is an older case and the parol evidence rule is now applied more strictly
On Monday, Foster deposits in his account at Guaranty Bank a local check for $500. After 5:00 P.M. on Friday, from these funds, Foster can withdraw no more than
a. $100. b. $400. c. $500. d. $600.