Which of the Following Is Not an Item or Product

question 36

Multiple Choice

Which of the following is not an item or product that is an appropriate candidate for a cost-based pricing approach?

• A) An item in which the seller contributes high added value through direct or indirect labor and specialized expertise.
• B) A complex item customized to specific requirements.
• C) A product requiring a conversion from raw material through value-added designs.
• D) A product requiring supplier-provided design and engineering support.
• E) Commodity-like items.

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Definitions:

Unconscionable

A term applied to a contract in which one party has so much more bargaining power than the other party that the powerful party dictates the terms of the agreement and eliminates the other party’s free will.

Warranty Of Title

An assurance, inferred in every Uniform Commercial Code (UCC) sales transaction, that the seller has good and valid title to the goods and has the right to transfer the title free and clear of any liens, judgments, or infringements of intellectual property rights of which the buyer does not have knowledge.

UCC

The Uniform Commercial Code delivers a full suite of legal stipulations for handling commercial transactions across the United States.

Lien

A legal claim or right against a property that can be used as collateral to satisfy a debt owed by the property owner.