Wanda and Jim Are Working on a Research Project to Anticipate

question 17

Multiple Choice

Wanda and Jim are working on a research project to anticipate customer attitudes toward a proposed new product line for their company.They have worked with the marketing manager to determine the answers that are needed,and have created a detailed design of the project.Their next logical step will be to

• A) develop a budget.
• B) begin to collect data.
• C) summarize their preliminary conclusions to present to managers.
• D) begin recommending changes to the new product line based on the ideas they developed in the design phase.
• E) analyze the data.

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Definitions:

Sale of Goods

A transaction between a buyer and a seller involving the transfer of ownership of goods from one party to another for a price.

Secondary Obligation

A duty or liability that is dependent on the occurrence or non-occurrence of certain conditions or the failure to perform a primary obligation.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise if the other party has significantly relied on that promise to their detriment, even if there is no formal contract.

Statute Of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the parties involved to be enforceable.