Larson entered Forrester's Auto Mart to purchase a used car. Larson found a vehicle with a sales price of $11,000. After Forrester answered all of Larson's questions, Forrester and Larson agreed to a sale. As Larson was leaving to get the money to pay for the car, Forrester told Larson that he thinks Robert Redford formerly owned the car. Larson later learned that Robert Redford had never owned
the car. If Larson seeks to rescind the deal based on Forrester's statement, Larson will
A) win because he relied on the misrepresentation.
B) win because there was a misrepresentation of a material fact.
C) lose because he will not be able to prove reliance on the misrepresentation.
D) lose because Forrester made a unilateral mistake.
C
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Which of the following statements is true regarding decentralization?
A. Decentralization increases the complexity of problems. B. Decentralization limits fast responses to business changes. C. Managers in a decentralized organization have less knowledge about local business advantages. D. Decentralization allows managers to receive on-the-job training in decision-making.
______ comes from within the individual and is independent of the position he or she holds in an organization.
A. Legitimate power B. Organizational power C. Personal power D. Coercive power
Harrison Inc has computed direct labor standards for the manufacture of its product to be 4 hours of labor per product at a cost of $15 per hour. During March, Harrison produced 45 products in 190 hours and incurred direct labor costs of $2,720. Harrison's direct labor efficiency variance was
A) $150 (F). B) $130 (U). C) $150 (U). D) $130 (F).
Generally, employees of nonagricultural, private-sector firms are entitled to benefits for work-related accidents and illnesses leading to temporary or permanent disabilities under:
A. ERISA. B. the Social Security Act. C. the Federal Unemployment Tax Act. D. workers' compensation.