Nestor,a Stockholder of a Software Firm,is Unable to Attend the Annual

question 56

Multiple Choice

Nestor,a stockholder of a software firm,is unable to attend the annual shareholders' meeting conducted by the firm.He authorizes his friend,Matt,to attend the meeting on his behalf and vote Nestor's shares in his name.To formalize this,he composes and signs a written document that grants Matt the appropriate privilege.The document is then sent to the software firm.This document is an example of ________.

• A) a verdict
• B) an implied warranty
• C) tacit contract
• D) proxy

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Definitions:

Sales Cycle

The process that companies follow from the initial contact with a potential customer to the closing of a sale, including steps such as prospecting, communicating, negotiating, and fulfilling orders.

Merchandising Company

A business entity that purchases goods in large quantities from manufacturers or wholesalers and then sells them in smaller quantities to consumers.

Receive Inventory

The process of accepting, documenting, and storing goods delivered to a business.

Enter Bill

The process of recording an invoice received from a vendor or supplier into the accounting system.