The UCC's requirement that contracting parties perform and enforce their deals honestly is termed

a. conformance.
b. acceptance.
c. good faith.
d. reasonable action.


c

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When company management decides that it is unwilling to follow the "conventional wisdom" and instead finds a new way to gain competitive advantage, it might be said to be:

A) searching for loose bricks. B) changing the rules of engagement. C) collaborating. D) building layers of advantage. E) innovating.

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The performance measurement system should encourage each manager to act in a manner that

a. makes the manager's units profits as high as possible. b. most positively supports the organization's mission and competitive strategies. c. increases his/her performance reward in the form of profit sharing. d. reduces the need for informational elements in support of the manager's planning function.

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How would you choose an effective and appropriate quotation to use as an attention getter for a presentation?

What will be an ideal response?

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Chimilio Clinic uses client-visits as its measure of activity. During June, the clinic budgeted for 3,400 client-visits, but its actual level of activity was 3,360 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for June:Data used in budgeting: Fixed Element per MonthVariable element per client-visitRevenue - $33.70      Personnel expenses$27,300 $10.70Medical supplies 1,200  5.50Occupancy expenses 9,000  1.50Administrative expenses 4,100  0.30Total expenses$41,600 $18.00?Actual results for January:  ?Revenue$112,062 Personnel expenses$64,602?Medical supplies$19,900?Occupancy expenses$13,640?Administrative expenses$5,068???The net operating income in the flexible budget

for June would be closest to:  A. $11,152 B. $8,748 C. $8,957 D. $11,780

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