In the A-B-C Classification System, Items Which Account for About

question 69

Multiple Choice

In the A-B-C classification system, items which account for about 15 percent of the annual dollar value, but which account for a majority of the inventory items, would be classified as

• A)A items.
• B)B items.
• C)C items.
• D)A items plus B items.
• E)B items plus C items.

Analyze the conditions under which title and risk of loss pass from seller to buyer in various sales contexts.

Discern the legal requirements of tender in a goods sale.

Understand the legal effects of contracts and how title, possession, and risk of loss are transferred.

Recognize how the UCC addresses good faith purchases and sales involving minors or entities lacking authority.

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Definitions:

Anxiety

A psychological and physiological state characterized by somatic, emotional, cognitive, and behavioral components, which is often the result of stress and worry.

Depression

A common mental disorder characterized by persistent sadness, loss of interest in activities, and a range of physical and cognitive symptoms.

Obsessive-compulsive Personality Disorder

A mental disorder characterized by a preoccupation with orderliness, perfectionism, and control at the expense of flexibility, openness, and efficiency.

Obsessive-compulsive Disorder

A chronic disorder characterized by uncontrollable, reoccurring thoughts (obsessions) and behaviors (compulsions) that the individual feels the urge to repeat.