Which of the following is not a real defense to enforcement of a negotiable instrument?
A. Infancy (being below the legal age of consent), to the extent that it makes a contract void
B. Fraud in the factum
C. Impairment of collateral
D. Discharge through insolvency proceedings (bankruptcy)
E. Forgery
Answer: C
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Which of the following statements concerning the standard of fairness is false?
A. The public perception that the federal income tax is unfair has decreased in recent decades. B. People believe that the federal income tax is unfair because it contains preferences available only to wealthy individuals. C. People who believe that a tax is unfair are more likely to evade the tax. D. None of the choices are false.
Avoid the __________________ form of abbreviations except in charts, graphs, illustrations, and other visual aids
a. long b. short c. symbol d. formal
Which of the following terms is sometimes used to describe the greater propensity for certain groups to have difficulties in moving out of lower-level jobs:
a. glass basement b. social traps c. underclass d. sticky floor
Average inventory is calculated as the (maximum inventory + minimum inventory)/2 in ______.
A. only the EPQ model B. only the EOQ model C. both EPQ and EOQ models D. neither EPQ nor EOQ models