The Production Manager of CLR Corporation Calculated a Material and Unfavourable

question 79

Multiple Choice

The production manager of CLR Corporation calculated a material and unfavourable variance of $4,000 with respect to the cost of direct materials. Which of the following is a likely next step for the production manager?

• A) Identify and discipline the responsible employee
• B) Take actions to prevent the variance from recurring
• C) Ascertain the cause of the variance
• D) Switch suppliers for direct materials

Understand the legal grounds for avoiding a contract due to mistake, fraud, or misrepresentation.

Identify the difference between rescinding and ratifying a contract.

Recognize the implications of undue influence and duress in contract law.

Distinguish between innocent, fraudulent, and nonintentional misrepresentations.

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Definitions:

Disadvantaged Groups

are sections of society that experience lower economic, social, or political status, often facing barriers to equal opportunities.

Advantaged Groups

Groups within a society or organization that enjoy more resources, rights, or privileges compared to other segments.

Commonalities

Traits, interests, or values that are shared between individuals or groups, leading to a sense of unity or agreement.

Power

The ability or capacity to influence or control the behavior of others, the course of events, or the distribution of resources.