Which One of the Following Statements Is False with Respect

question 147

Multiple Choice

Which one of the following statements is False with respect to who bears the risk of loss in a sale-of-goods contract?

• A) The risk of loss may depend on who holds title.
• B) The parties can contradict the provisions of the Sale of Goods Act on this question.
• C) When unascertained or future goods are involved, the risk transfers once a reasonable time has passed.
• D) The risk of specific goods may pass upon formation of the contract.
• E) Where repairs have to be done before delivery, the risk passes when the repairs are made and notice given.

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Definitions:

Process Innovation

The improvement or development of new methods in the production process, enhancing efficiency or productivity.

Total Product Curve

A graphical representation showing how total output of a firm varies with a change in a single input while holding other inputs constant.

Average Total Cost Curve

A graphical representation showing the average cost per unit of output at different levels of production.

R&D

Short for Research and Development; activities companies undertake to innovate and introduce new products or services.