What is the definition of the business judgment rule?
The business judgment rule states that managers are not liable for decisions they make in good faith if (1 ) it is done without a conflict of interest; (2 ) it is done with the care that an ordinary prudent person would take in a similar situation; and (3 ) it is done in a manner they reasonably believe to be in the best interests of the corporation.
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The inventory method that assigns the most recent costs to ending inventory is LIFO
a. True b. False Indicate whether the statement is true or false
A major competitive advantage of independent retailers is _____
a. a good fit with other owned units b. flexibility in devising retail strategy c. quantity discounts in purchasing d. specialization of retail functions
Data mining
a. is packaged software. b. is a method of examining processes. c. uses statistical techniques to solve problems. d. is a way to downsize.
Shelton Engines has built a new model of engines that can withstand more heat than the competing engines in its class. Lokin Inc, a sports car manufacturer, ________ the equipment from Shelton Engines for $1,000,000. Shelton Engines transfers title to the engine to Lokin. Lokin is now the owner of the equipment.
A) captures B) leases C) purchases D) produces