The National Relations Labor Act of 1935 is also known as the:
a. Wagner Act.
b. Taft-Hartley Act.
c. Robinson-Patman Act.
d. Freedom to Work Act.
a
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The design engineer's preliminary estimate of a product's design, production, and distribution costs is $1,550 per unit. Market research shows potential customers are willing to pay up to $1,989 for the product. If the desired profit is 40 percent of target cost, should the company make the product?
A) No, the market price only allows for a 28% profit at this cost. B) Yes, with only slight modifications to cost. C) Yes, the desired costs and profit are right on target. D) Yes, the market price will allow for a profit that exceeds the target.
Diversity among employees leads to increased employee turnover
Indicate whether the statement is true or false
Technology, environment, rules, and reward systems can all contribute to a company's culture
Indicate whether the statement is true or false
First State Bank is a secured party on a $5,000 loan to Geoff, who owns Happy Hours, a nightclub. When Geoff experiences financial difficulty, creditors other than First State Bank petition him into involuntary bankruptcy. The value of the secured collateral has substantially decreased in value. On its sale, the debt to First State Bank is reduced to $2,500. Geoff's estate consists of $100,000 in exempt assets and $2,000 in nonexempt assets. After the bankruptcy costs and back wages to Geoff's employees are paid, nothing is left for unsecured creditors. Geoff receives a discharge in bankruptcy. Later he decides to go back into business. By selling a few exempt assets and getting a small loan, he is able to buy the Idle Inn, a small, but profitable, restaurant. Geoff goes to First State
Bank for the loan. The bank claims that the balance of its secured debt was not discharged in Geoff's bankruptcy. He signs an agreement to pay First State Bank the $2,500, and the bank makes a new unsecured loan to him. Is First State Bank correct that the balance of its secured debt was not discharged in bankruptcy? What is the legal effect of Geoff's agreement to pay the bank $2,500 after the discharge in bankruptcy? What will be an ideal response?