Mining Corporation Purchases the Business Assets of Open Pit Inc

question 10

Multiple Choice

Mining Corporation purchases the business assets of Open Pit Inc. ,including its equipment and supplies,for an agreed-to price,payable in installments.Under Article 2 of the UCC,this transaction is

• A) a contract for services.
• B) a sublease.
• C) a lease.
• D) a sale.

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Definitions:

Outgroup Favoritism

The phenomenon where a person prefers and supports the members of a group they are not part of over their own group.

Social Identity

An individual's sense of who they are based on their group memberships, such as social, cultural, and occupational groups.

Ingroup Bias

The inclination to prefer individuals from one's own group rather than those from outside groups.

Hindsight Bias

A cognitive bias that causes people to overestimate their ability to predict events that have already happened.