Fact Pattern 15-2 LNG Corporation and Mid-State Utility Company Enter a Contract for a Contract

question 66

Multiple Choice

Fact Pattern 15-2
LNG Corporation and Mid-state Utility Company enter a contract for a sale of liquefied natural gas. LNG draws a draft unconditionally ordering Mid-state Utility to pay $50,000 to LNG's order in sixty days. Mid-state Utility signs and dates the draft.
-Refer to Fact Pattern 15-2.This instrument is

• A) ​a banker's acceptance.
• B) ​a nonnegotiable instrument.
• C) ​a promissory note.
• D) ​a trade acceptance.

Comprehend the importance of transparency in corporate practices for trust-building with customers.

Comprehend the measures of customer service success, including fill rates and on-time delivery.

Understand the concept of ease of doing business and its impact on customer satisfaction.

Grasp the essentials of customer relationship management (CRM) and its strategic importance.

---

Definitions:

Production

The process or method of creating goods and services through the combination of labor, materials, and technology.

Fixed Inputs

Resources in production that remain constant in quantity regardless of the level of output or activity.

Variable Inputs

Resources used in production that vary with the level of output, such as raw materials.

Short-Run

A period of time in economics where at least one input is fixed, limiting the ability to fully adjust to market changes.