Which of the following statements is TRUE? The concept of fundamental breach
A) produced considerable inconsistencies in court decisions
B) was limited by the Supreme Court decision in Tercon Contractors
C) was applied in an unpredictable way to limitation and exclusion clauses
D) All of the above
E) None of the above
D
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?Which of the following methods of capital budgeting is based on the concept that it is better to recover the cost of (investment in) a project sooner rather than later?
A. ?Internal rate of return (IRR) method B. ?Traditional payback period method C. ?Modified internal rate of return (MIRR) method D. ?Net present value (NPV) method E. ?Maturity value method
What is the probability of selecting any random number from a two digit table?
A) 0.001 B) 0.01 C) 0.10 D) 0.02 E) Not enough information provided
A reverse auction refers to an online auction
A. in which a buyer communicates a need for a product or service and would-be suppliers are invited to bid in competition with each other. B. in which a manufacturer offers to share its facilities, inventory, or services with other smaller firms that are invited to bid in competition with each other. C. in which a smaller manufacturer seeks to share the facilities, inventory, or services of a larger firm, and invites those firms to bid in competition with each other. D. where firms may sell their overstock - unused raw materials, packaging, and tools - to the highest bidder. E. where firms seek to purchase other firms' overstock - unused raw materials, packaging, and tools - while trying to find the lowest price possible.
A contract made by a person with partial capacity is:
a. not enforceable b. enforceable unless the person with partial capacity exercises the right to disaffirm the contract c. enforceable in some states, but not others d. enforceable only if the other party has complete capacity to contract with persons of partial capacity e. not enforceable unless it deals with property worth less than $100 and there is a written agreement