Immediately After Randor Leather Awarded a Long-Term Contract for Supply

question 69

Multiple Choice

Immediately after Randor Leather awarded a long-term contract for supply of raw materials, its Operations Manager gets information from a vendor about a much cheaper source of raw material. This information is likely to be of little use to the business because it is not ________.

• A) appropriate
• B) of good quality
• C) timely
• D) in sufficient quantity
• E) wide in scope

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Definitions:

Real Property

Land and anything permanently affixed to it, such as buildings and trees.

Mortgage

A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Deed of Trust

A legal document used in some states that involves three parties—the borrower, the lender, and the trustee—and it serves as a lien on real property.

Default

The failure to fulfill a legal obligation, especially the failure to pay back a loan according to the agreed-upon terms.