Description : Delta Air Lines wishes to purchase five new aeroplanes. Management seeks information from several aircraft manufacturers, screens the offers, and discusses price and terms of sale with the preferred company until a ... method of pricing is: A)administered. B)sealed bid. C)open bid. D)negotiated.
Last Answer : D)negotiated.
Description : When Fred Middleton asks the Cannon salesperson how much a desktop bond copier is going for these days, the salesperson looks in his price book and quotes Fred the firm's published price for the unit. ... , Cannon is using which type of pricing? A)Open bid B)Sealed bid C)Administered D)Negotiated
Last Answer : C)Administered
Description : A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, to win a contract is most likely using A. Going-rate pricing B. Cost-plus pricing C. Perceived-value pricing D. Sealed-bid pricing
Last Answer : C. Perceived-value pricing
Description : The system in which an industrial seller sets a price for a product and the customer pays that price is known as -------- pricing. A)bid B)negotiated C)administered D)fixed
Last Answer : C)administered
Description : Which of the following is not one of the major “product” variable decisions to be made by a retailer? A. Target market selection B. Product assortment decision C. Merchandising D. Store atmosphere decision
Last Answer : A. Target market selection
Description : A ________ Level Agreement (SLA) is the contract for performance negotiated between you and a service provider. a) Service b) Application c) Deployment d) All of the mentioned
Last Answer : Service
Description : A preferred provider organization is described as a a) Business arrangement between hospitals and physicians. PPO's usually contract to provide health care to subscribers, usually businesses, for a ... savings account program is an incentive program to consumers, not a health care delivery system.
Last Answer : a) Business arrangement between hospitals and physicians. PPO’s usually contract to provide health care to subscribers, usually businesses, for a negotiated fee that often is discounted.
Description : When a seller requires that a dealer not handle competitors' products, the agreement is called a/an A. Exclusive distribution B. Exclusive dealing C. Control criterion D. Dual distribution
Last Answer : D. Dual distribution
Description : In marketing intermediaries, way of distribution in which few dealers distribute company's product in selective territories is classified as A. selective distribution B. intensive distribution C. inclusive distribution D. exclusive distribution
Last Answer : D. exclusive distribution
Description : As per section 2(1)(j) of Consumer Protection Act 1986, 'manufacturer' means a person who (i) makes or manufactures any goods or part thereof (ii) does not make or manufacture any goods but assembles parts thereof made or manufactured by ... B. (i) & (iii) C. (ii) & (ii) D. (i), (ii) & (iii)
Last Answer : D. (i), (ii) & (iii)
Description : When a car dealer complains to the manufacturer that another dealer of the same make of cars is selling outside their assigned territories, it is a type of A. Parallel conflict B. Customer-service conflict C. Vertical conflict D. Horizontal conflict
Last Answer : D. Horizontal conflict
Description : Pre incorporation contract is also known as _________ A. Provisional B. Preliminary C. Illegal D. Legal
Last Answer : A. Provisional
Description : A stipulation which is essential to the main purpose of the contract and if proved false, gives the buyer a right to terminate the contract, is legally known as A. Condition B. Warranty C. Guarantee D. None of these
Last Answer : A. Condition
Description : In contract of guarantee, the person in respect of whose default the guarantee is given, is known as: A. Creditor B. Surety C. Principal debtor D. Debtor
Last Answer : C. Principal debtor
Description : In contract of guarantee, the person to whom guarantee is given is known as: A. Creditor B. Surety C. Principal debtor D. Debtor
Last Answer : A. Creditor
Description : Poundstretcher stores are characterised by a product assortment that is A)wide and deep B)wide and shallow. C)narrow and deep. D)narrow and shallow.
Last Answer : B)wide and shallow.
Description : Tie Rack stores are characterised by a product assortment that is: A)wide and deep B)wide and shallow. C)narrow and deep.D)narrow and shallow.
Last Answer : C)narrow and deep
Description : A brand is BEST defined as a A)registered design or symbol that is displayed on the product. B)related group of words that describe the product. C)name, symbol, design, or combination of these that identifies a seller's products. D)copyrighted word(s) that give the manufacturer exclusive ownership
Last Answer : C)name, symbol, design, or combination of these that identifies a seller's products.
Description : In what situation would the government us a no bid contract?
Last Answer : when there is a budget surplus
Description : Even though a firm may have stated list prices and discount structures, the customer may pay an even lower price through what type of pricing? A)Open bidding B)Administered pricing C)Sealed bidding D)Negotiated pricing
Last Answer : D)Negotiated pricing
Description : In ------- bidding, several industrial sellers are asked to submit bids, and the amounts of the bids are made public. A)sealed B)negotiated C)solicited D)petitioned E)open
Last Answer : E)open
Description : The consumers have an implied_____________ with the corporations A. Quasi Contract B. Social Contract C. Legal Contract D. None of the above
Last Answer : B. Social Contract
Description : The most influential theory of corporate responsibility of the past century is: A. The moral minimum model. B. The classical model. C. The social contract theory. D. The stakeholder theory.
Last Answer : B. The classical model.
Description : A stipulation in contract of sale with reference to goods which are the subject there of may be A. A condition B. A warranty C. Both (a) and (b) D. None of above
Last Answer : C. Both (a) and (b)
Description : According section 5(2) subject to provision of any law for the time being in force a contract of sale may be A. Made in writing B. By words of mouth C. Partly in writing or partly in words of mouth D. All above ways
Last Answer : A. Made in writing
Description : Where the transfer of the property in the goods is to take place at a future time or subject to some condition, then such contract is called: A. An agreement to sell B. A contract to Sale C. Future Contract D. Conditional contract
Last Answer : A. An agreement to sell
Description : A warranty is a stipulation which is A. Essential to the main purpose of contract of sale. B. Essential for buyer's specific purpose. C. Collateral to the main purpose of contract of sale. D. None of these
Last Answer : C. Collateral to the main purpose of contract of sale.
Description : As per the doctrine of caveat emptor incorporated in Section 16, there is no implied conditions or warranty in a contract of sale as to the A. Merchantability. B. Wholesomeness. C. Quality or fitness for buyer's purpose. D. None of these.
Last Answer : C. Quality or fitness for buyer's purpose.
Description : The goods identified and agreed upon at the time a contract of sale is made are called A. Ordinary goods B. Specified goods C. Scheduled goods D. None of above
Last Answer : B. Specified goods
Description : Future goods mean goods to be manufactured or produced or acquired by the seller A. In future prescribed time B. After making of contract C. Before making of contract D. None of above
Last Answer : B. After making of contract
Description : A minor was facing a criminal prosecution for smuggling drugs. He borrowed Rs. 5000 to hire an advocate to defend him in the court of law. What is the remedy available to the creditor if the ... the age of majority D. The creditor can recover his amount from the parent or guardian of the minor
Last Answer : A. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio
Description : Voidable contract is one A. Which is lawful. B. Which is invalid. C. Which is valid as long as it is not avoided by the party entitled to do so. D. Which is unlawful.
Last Answer : C. Which is valid as long as it is not avoided by the party entitled to do so.
Description : Where a contract has to be inferred from the conduct of parties, it is called A. Express contract. B. Implied contract. C. Tacit contract. D. Unlawful contract
Last Answer : B. Implied contract.
Description : Anuj agrees to pay ` 10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes: A. Valid B. Void C. Voidable D. Illegal
Last Answer : B. Void
Description : Deepak, Ashwani and Tarun jointly promised to pay ` 90,000 to Pradeep. Deepak was compelled by Pradeep to pay the entire amount of ` 90,000. Here: A. Deepak can file a suit against Pradeep for ... to Deepak. D. Pradeep is not justified here and is liable to refund the entire amount to Deepak.
Last Answer : B. Deepak is entitled to recover ` 30,000 each from Ashwani and Tarun
Description : Which of the following is false with respect to minor entering a contract? A. An agreement with or by a minor is void ab initio B. A minor can be a beneficiary of a contract C. The ... be enforced at the option of the third party D. A minor cannot ratify a contract on attaining majority
Last Answer : C. The contracts involving a minor as a beneficiary may be enforced at the option of the third party
Description : Sonia contracts with Anshul to buy a necklace, believing it is made of pearls whereas in fact it is made of imitation pearls of no value. Anshul knows that Sonia is mistaken and takes no steps ... the contract C. Sonia can cancel the contract alleging undue influence D. Sonia can claim damages
Last Answer : B. Sonia cannot cancel the contract
Description : A contract to perform a promise or discharge the liability of a third party is called— A. Contract of indemnity B. Contract of agency C. Contract of guarantee D. Contract of warranty
Last Answer : C. Contract of guarantee
Description : In Indian Contract Act, the term consensus ad idem means A. Parties under a mistake B. Parties under the free consent C. Parties agreeing upon the same thing in same sense D. None of these
Last Answer : C. Parties agreeing upon the same thing in same sense
Description : What does Section 17 of the Indian Contract Act, define? A. Coercion B. Undue influence C. Fraud D. Mistake
Last Answer : C. Fraud
Description : Express contract means a contract made by A. words either spoken or written. B. documents. C. both words and documents. D. all of the above.
Last Answer : D. all of the above.
Description : The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the ... then it is called: A. Contingent contract B. Bailment C. Pledge D. Contract of indemnity
Last Answer : B. Bailment
Description : The Bailment of goods as security for payment of a debt or performance of a promise is called: A. Pledge B. Bailment C. Contingent contract D. Agreement
Last Answer : A. Pledge
Description : Which is correct? A. Proposal + acceptance = promise B. Promise + consideration = agreement C. Agreement + enforceability = contract D. All the above.
Last Answer : D. All the above.
Description : Which of the following persons are not competent to contract? A. Minor B. Person disqualified by law C. Person of unsound mind D. All of the above
Last Answer : D. All of the above
Description : Which of the following persons can perform the contract? A. Promisor alone B. Legal representative of promisor C. Agent of the promisor D. All of them
Last Answer : D. All of them
Description : A Void Contract A. Is void from the very beginning? B. Enforceable at the option of both the parties. C. Enforceable at the option of one party D. Not enforceable in the court of law
Last Answer : D. Not enforceable in the court of law
Description : A contract is made where: A. X agrees with Y to discover a treasure by magic. B. X bids at a public auction C. A takes a sea D. A sit in a public Omni bus.
Last Answer : D. A sit in a public Omni bus.