Jenny,the Owner of an Ice Cream Parlor,has Been Experimenting with Different

question 43

Multiple Choice

Jenny,the owner of an ice cream parlor,has been experimenting with different flavors to create a new exotic ice cream for her customers.After much deliberation and many tests,she decides to market the new Beet Cake with Black Walnut variant.In this scenario,the chosen ice cream flavor has entered the _____ stage of the new-product development process.

• A) business analysis
• B) development
• C) test marketing
• D) commercialization

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Definitions:

Apparent Authority

The appearance or assumption of authority based on the actions or statements of the presumed principal, irrespective of whether true authority exists.

Actual Authority

The express and implied powers given to an agent by a principal, allowing the agent to make legally binding decisions.

Principle Of Estoppel

A legal doctrine preventing an individual or entity from making assertions or from going back on their word where actions or declarations have been made that others have relied upon.

Agency Relationship

A legal arrangement where one party, the agent, is authorized to act on behalf of another, the principal, in business transactions.