1 It is necessary to convert equality constraints into inequality constraints for writing a dual to a linear programming problem.
True or False
2 A claims that she and B entered into a contract. The intent to enter into a contract is determined with reference to
Answer
the conscious theory of contracts.
the objective theory of contracts.
the personal theory of contracts.
the subjective theory of contracts.
3 Excel Corporation agrees to sell the latest version of its Go! computer game to National Retail Company. Excel delivers an outdated version of Go! (nonconforming goods). National's possible remedies may include
Answer
recovering damages only.
rejecting part or all of the goods, or revoking acceptance only.
recovering damages, rejecting goods, or revoking acceptance.
none of the above.
4 Which of the following is true about modern business corporations?
Answer
The current societal expectation is that a corporation should just make money legally and not worry about the local community or society or ethics.
Since the corporation is not a real person it can never be judged from an ethical point of view.
The corporate vice-president of ethics has the power to veto what he or she considers as immoral corporate actions, but the veto according to the SEC can be overridden by a two-thirds vote of the board of directors.
None of the above.