Failure to exercise the degree of care required by law to protect others from harm is called
A) premeditated liability.
B) vicarious liability.
C) punitive damages.
D) negligence.
Answer: D
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Which of the following statements is true about an agency by ratification?
A) A principal must have full knowledge of an agent's actions for the agency to be effective. B) It occurs when a third person is led to believe by a principal that a certain individual is the principal's agent. C) It occurs when a principal draws up a legal document to establish an agency relationship before an agent undertakes any action. D) A third party must be unaware of the existence of a principal at the time of an agent's act for the agency to be effective.
Which of the following is true of the Visa Waiver Program?
A. It allows tourists to stay in a host nation for a limited time without a visa. B. It allows tourists to stay indefinitely without a visa in a host nation. C. It allows tourists to travel without passports. D. It is a form of approval given to immigrant that has been nationalized.
________ focus on "getting along," not necessarily "getting ahead."
A. Diligent people B. Agreeable people C. Extraverts D. Neurotic people E. Conscientious people
A producer makes an item for $32 and sells it with a 50 percent markup to a wholesaler. The wholesaler then applies a 20 percent markup. A retailer then uses a 60 percent markup. The final retail selling price is
A. $200.00. B. $64.00. C. $80.00. D. $73.60. E. The final retail price cannot be determined without stockturn information.