A revocable letter of credit is an agreement to honor a draft or other demand for payment when specified conditions are met and can only be changed by the seller.
Answer the following statement true (T) or false (F)
False
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Select the preferential treatment policy that is likely to raise the least serious ethical challenge.
A. Identifying members of previously disadvantaged groups in the pool of candidates who are less qualified than white males and giving them preference in the hiring decision B. Giving preference to otherwise qualified but previously disadvantaged candidates C. Hiring members of disadvantaged groups with only minimal consideration given to their qualifications D. Identifying members of previously disadvantaged groups in the pool of qualified candidates and giving them preference in the hiring decision
To be enforceable, a contract must be supported by consideration
Indicate whether the statement is true or false
A machine is used in a production process. From past data, it is known that 97% of the time the machine is set up correctly. Furthermore, it is known that if the machine is set up correctly, it produces 95% acceptable (non-defective) items. However, when it is set up incorrectly, it produces only 40% acceptable items
a. An item from the production line is selected. What is the probability that the selected item is non-defective? b. Given that the selected item is non-defective, what is the probability that the machine is set up correctly?
The need to improve an organization's _______correlates directly with the process of making and measuring quality improvements.
a) productivity curve b) financial condition c) product design d) customer focus