When a product is purchased which is complicated or highly technical a ______________may be issued instead of a request for quotation.
A. Request for proposal
B. Purchase order
C. Contract for sale
D. Sales order
Answer: A
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What aspect of data collection and analysis would normally NOT be included in a proposal?
a. Copy of proposed interview guide b. Estimate of time required for collecting data c. Identification of statistical tests to be used d. Summary of interviewee's responses
Which of the following is untrue about a corporation's ratification of an act of an officer?
a. It applies to an authorized act of an officer. b. It relates back to the original transaction. c. It may be either express or implied from the corporation's acceptance of the contract's benefits. d. The corporation must have full knowledge of the facts in order to ratify the act.
A system in which the customer receives service from only one station and then exits the system is which of the following?
A) a single-phase system B) a single-channel system C) a multiple channel system D) a multiphase system E) a limited-access system
Scenario 7.2 Use the following to answer the questions. Precision Brake Company is a supplier of brake components to the manufacturers of lawn tractors and 4-wheel ATVs. It also sells its products to independent repair centers, dealers, and other wholesalers in Northeast and Southern states. Precision Brake has done research on the demand for lawn tractors and found that most manufacturers are in the states of Kentucky, Tennessee, and Alabama. Research also shows that most of the dealers who sell directly to individual consumers are in the Midwestern states, while dealers who sell to small business landscaping companies tend to be located in the Northeastern states. Company executives are considering expansion of its distribution to markets in the Midwest. Refer to Scenario 7.2. Given
the type of business market in which Precision Brake is currently operating, which group would it be least likely to sell to? A. Producers B. Governments C. Retailers D. Consumers E. Institutions