A buyer and seller enter into a written contract for the sale of some specialty steel to be used by
the buyer in the manufacture of some appliances. The contract specified all the terms of the
contract except the price.
Which of the following is true?
A) A reasonable price will be implied.
B) There would be a contract except that the price cannot be implied in this contract because
it is not a contract for the sale of a commodity with an easily determined market price.
C) A price will be implied only if the contract called for the price to be determined at a later
date.
D) There is no contract because there is no meeting of the minds as to a material term.
A
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A noted professional art academy has founded an "artists and friends" travel company specializing in tours for artists to scenic locales, using its faculty as traveling teachers. In addition, the art academy has purchased a framing company to make frames for academy art works, and to sell museum-quality framing services to the public. The art academy is engaging in diversification based on __________ relatedness.
A. operational B. corporate C. intellectual D. constrained
The following information is available for Fordham Corp for its most recent year: Net sales ............................................. $3,600,000 Freight-in ............................................ 90,000 Purchase discounts .................................... 50,000 Ending inventory ...................................... 240,000 The gross margin is 40 percent of net sales. What is the
cost of goods available for sale? a. $1,680,000 b. $1,920,000 c. $2,400,000 d. $2,440,000
Alba Motors Company has offered to sell 6,000 units of the same part to Transformation for $17.50 per unit. Assuming the company has no other use for its facilities and that the fixed manufacturing costs are unavoidable, what should Transformation do?
Transformation Motor Company produces a part that is used in the manufacture of one of its products. The unit manufacturing costs of this part, assuming a production level of 6,000 units, are as follows:
People overemphasize the success of work teams because:
a. There is no research to suggest otherwise. b. Teams are better than individuals at most all organizational tasks. c. Of the psychological benefits of teamwork. d. Their implementation is one of the most common organizational changes in the last two decades.