A large and well-known corporation wants to acquire a plot of ground for a new plant. To avoid the extra cost, the corporation purchases the land through several agents, each purporting to be buying personally. In such cases, the corporation is a(n) ________.
A. disclosed principal
B. subagent
C. undisclosed principal
D. partially disclosed principal
Answer: C
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The principle of precedent, as used in the common law, means that
A) judges are limited in what they can consider when making a decision B) principles established in earlier cases are applied in later similar cases C) judges are always required to rely on statute law in making a decision D) higher courts are required to follow precedents established by lower courts E) a judicial decision cannot be reversed by appealing to a higher court
Which of the following does NOT represent a cultural change emerging in organizations?
A. An increased concern for privacy B. Changing attitudes toward work C. Balancing work and family demands D. Accommodating unemployed workers
Which of the following statements correctly reflects the relationships among quantity, cost, and price, based on the cost-oriented pricing model?
A. The average total cost is usually obtained by adding the profit per unit to the quantity demanded at selling price. B. Cost-oriented selling price per unit is usually determined by adding the variable cost per unit with the estimated quantity to be sold. C. The quantity demanded at selling price is the quantity used to compute the average cost. D. The estimated total number of units to be sold usually determines the average fixed cost per unit.
A collateral promise is an undertaking to be primarily liable for the principal debtor's debt
Indicate whether the statement is true or false