If a Menu Item Is Priced at $12

question 34

Multiple Choice

If a menu item is priced at $12.99, it's an example of:

• A) price rounding.
• B) first- figure dominance.
• C) psychological pricing.
• D) odd- cents pricing.

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Definitions:

Implied-In-Fact

A contract formed by non-verbal conduct, rather than explicit words, indicating that both parties intend to be bounded.

An Accounting

The process or act of maintaining financial records, summarizing transactions, and analyzing financial data to understand the financial status of an individual or organization.

Specific Performance

A legal remedy requiring a party to fulfill the exact terms of a contract, typically used when monetary damages are insufficient.

Duty of Notification

An agent’s obligation to inform the principal of the agent’s actions on the principal’s behalf and of all relevant information.