Mary was selling her house. The purchase asked if it had termites and Mary replied in horror, "absolutely not". However, it did have termites
But clever insects that they are, they kept well inside the wood so Mary never saw them and didn't have any idea that they were there. There was no mention of this statement in the contract for sale of the house. Mary's statement is considered in law to be
A) an innocent misrepresentation
B) a negligent misrepresentation
C) a false warranty
D) of no consequence because it was not included in the written contract
E) of no consequence because she believed that there were no termites and was honestly mistaken
A
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Decentralization reduces the need for effective communication among an organization's departments
Indicate whether the statement is true or false
Answer the following statement(s) true (T) or false (F)
1. The three dysfunctions of culture discussed in the textbook are change, diversity, and mergers and acquisitions hindrances. 2. Networked cultures are characterized by a high degree of trust between employees and a willingness to communicate and share information. 3. Fragmented cultures exist in organizations where making money is the top priority. 4. Spiritual culture focuses on opportunities for employees to grow in the workplace by carrying out meaningful tasks that contribute to the good of society as a whole. 5. Organizations with successful socialization strategies are more likely to have a positive organizational culture and perform better as a result.
Concerning the universal functions of marketing, it is true that
A. the functions must be performed in all macro-marketing systems. B. from a micro viewpoint, every firm must perform all the functions. C. responsibility for performing them can be shifted and shared-and some functions can be completely eliminated to reduce costs. D. the functions can be performed by producers or intermediaries-but not by consumers.
Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct professional labor hours. Overhead was estimated to be $150,000, direct professional labor hours were estimated to be 15,000, and direct professional labor cost was projected to be $225,000. During the year, Armour incurred actual overhead costs of $146,000, actual direct professional labor hours of 14,500, and actual direct labor cost of $222,000. By year-end, the firm's overhead was:
A. $5,000 underapplied. B. $4,000 overapplied. C. $4,000 underapplied. D. $1,000 overapplied. E. $1,000 underapplied.