Polaris Corporation Has Made an Agreement to Ship Goods to a Foreign

question 75

Multiple Choice

Polaris Corporation has made an agreement to ship goods to a foreign firm with whom they have not entered into a contract for three years. However, the firms have communicated regularly since the last sale three years ago. This is an example of an:

• A) unaffiliated known party transaction.
• B) unaffiliated unknown party transaction.
• C) affiliated party transaction.
• D) none of the above

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Definitions:

Sex Hormones

Chemical substances that serve as messengers affecting the function of specific target organs responsible for secondary sex characteristics and reproductive activity.

Steroids

A class of lipids that have a basic structure consisting of four linked carbon rings, and include many hormones, alkaloids, and vitamins.

Terpenes

A large and diverse class of organic compounds, produced primarily by plants, that are the major components of essential oils.

Isoprene

A common organic compound with the formula C5H8, used as the monomer unit in the natural synthesis of rubber and other terpenes.