Describe some of the different forms of consideration.
What will be an ideal response?
The most common types of consideration consist of either a tangible payment (e.g., money, property) or the performance of an act (e.g., providing legal services). Less usual forms of consideration include the forbearance of a legal right (e.g., accepting an out-of-court settlement in exchange for dropping a lawsuit) and noneconomic forms of consideration (e.g., refraining from "drinking, using tobacco, swearing, or playing cards or billiards for money" for a specified time period).
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Identify a true statement about Section 301 of the Sarbanes-Oxley Act.
A. It outlines the codes of ethics for senior financial officers. B. It outlines the rules of professional responsibility for attorneys. C. It mandates that a majority of a public company's board should be independents. D. It prohibits various forms of professional services that are determined to be consulting rather than auditing.
A major and ambitious longitudinal study into the life cycle of service, product, technology and program innovation conducted by Andy Van de Ven and his colleagues (1999) was called ___________________.
a. The Minnesota Researchers for Innovation Group b. The Minnesota Team Innovation Study c. The Minnesota Innovation Research Program d. The Minnesota Multiphasic Personality Inventory
Which of the following numbers of shares could properly exist in a corporation?
A) 100,000 issued, 90,000 outstanding, and 80,000 authorized B) 100,000 authorized, 90,000 issued, and 80,000 outstanding C) 100,000 outstanding, 90,000 issued, and 80,000 authorized D) 100,000 authorized, 90,000 outstanding, and 80,000 issued E) A or C
The Environmental Study (Scenario)You have just been challenged by your supervisor to study and report your findings on approaches that organizations use when dealing with the environment and when pursuing the goal of going green. Your boss tells you to study the four major approaches, differentiate among them, and report to him in a week.What approach deals with an organization responding to the environment because of the preferences of its customers?
A. stakeholder approach B. market approach C. legal approach D. activist approach