Which of the Following Is True of Misrepresentation

question 54

Multiple Choice

Which of the following is true of misrepresentation?

• A) A misrepresentation is not actionable unless the innocent party relied on the misrepresentation and acted on it.
• B) An innocent party who acts in reliance on a misrepresentation need not justify his or her reliance.
• C) An innocent party must prove that the wrongdoer's misrepresentation was the sole reason he or she entered into the contract.
• D) An innocent party need not prove economic injury to recover damages for fraud.

Understand the concept and implications of heterarchy in team power dynamics.

Recognize the necessity of securing organizational support and resources for team success.

Understand key characteristics and processes of principled leadership within team excellence.

Identify the external and internal actions a leader can take to support team effectiveness.

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Definitions:

Cost of Goods Sold

The immediate expenses linked to the creation of products sold by a business, encompassing costs for materials, workforce, and operational overheads.

Cost of Goods Available

The total cost of inventory available for sale during a specific period, calculated as the sum of beginning inventory and purchases minus ending inventory.

FIFO

"First In, First Out," an inventory valuation method that assumes the first items placed in inventory are the first sold.

LIFO

Last In, First Out, an inventory valuation method where the latest items added to inventory are the first to be sold.