Which of the Following Is TRUE of Wal-Mart

question 145

Multiple Choice

Which of the following is TRUE of Wal-Mart?

• A) Wal-Mart has an unusual amount of flexibility for a large firm.
• B) Wal-Mart's success is largely due to the fact it has little market commonality with other industry firms.
• C) Decision-making responsibility is centered at its Arkansas headquarters which allows the firm to respond quickly to competitive attacks.
• D) Wal-Mart's advantage lies in its ability to "think big."

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Definitions:

Preexisting Duty Rule

A legal principle that asserts no additional consideration is necessary to modify a contract when a party is already legally obligated to perform a duty.

Bilateral Contract

A type of agreement where both parties make a promise to each other to perform certain acts or refrain from performing certain acts.

Liquidated Debt

A debt with a fixed and determinable amount that is agreed upon by both parties.

Accord And Satisfaction

A legal concept where parties to a dispute resolve their differences through a mutually agreed upon solution, often involving payment in exchange for dropping a claim.