If the main purpose of a promise is to pay the debt of another and benefit the promisor, the statute of frauds is not applicable, and the oral promise to pay the debt is binding
Indicate whether the statement is true or false
True
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A nursing assistant in a nursing home filed a grievance that he was unfairly passed over for a promotion. Discussions and appeals did not satisfy the employee, so the issue went to arbitration. The arbitrator decided that the nursing home must promote the employee, based on the terms of its contract, in spite of management's protests that the employee was too unreliable to handle the greater responsibility. The employee's supervisor urges Luke, the director of human resources, to file an appeal in the state courts. Luke says doing so would be a wasted expense. Which statement best supports Luke's conclusion?
A. Courts generally rule against businesses in employment matters. B. The company should have considered whether the grievance procedure is fair. C. Courts generally do not have the authority to rule on employment matters. D. The majority of grievances are settled during the early stages of the process. E. Courts generally avoid reviewing arbitrators' decisions in these matters.
At the beginning of 2016, the Joan Company had an inventory valued at $34,375 at cost ($50,000 at retail). During the year, Joan purchased inventory for $50,000 ($70,000 at retail), and made markdowns of $7,500. Joan's sales in 2016 were $62,500. What is Joan's estimated ending inventory at FIFO cost using the retail inventory method?
A) $37,500 B) $40,000 C) $39,000 D) $34,375
Which of the following is the last step in the hierarchy of effects?
A) create demand B) create desire C) encourage purchase D) build loyalty E) establish a relationship
GreenRain Corp. faces an increase in its employee turnover rate. The CEO calls for a board meeting with the senior executives to discuss the issue. Who among the following suggests increasing the relational returns that employees receive to reduce the turnover rate at GreenRain?
A. Liam, who suggests increasing merit bonuses B. Syed, who suggests increasing the medical insurance coverage offered to the employees C. Deena, who suggests providing more work/life balance to the employees by increasing the number of paid leaves D. Tom, who suggests increasing the decision-making authorities given to the employees to make work more challenging