Brian Is Attempting to Forecast Political Instability and Help Management

question 70

Multiple Choice

Brian is attempting to forecast political instability and help management identify and evaluate political events and their potential influence on current and future international business decisions. Brian is engaged in:

• A) political risk assessment.
• B) political securitization.
• C) democratization.
• D) risk abatement.
• E) quantification of risk.

Analyze the implications of changes in contract terms due to unexpected circumstances.

Understand the concept and legal principles surrounding remedies for breach of contract.

Recognize the conditions under which various types of damages (reliance, restitution, and consequential) apply in contract law.

Distinguish between legal and equitable remedies available in contract disputes.

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Definitions:

Direct Material

Raw materials that are directly traceable and allocable to a finished product.

Material Purchase Price Variance

A reiteration, focusing on the deviation between the actual amount paid for material and the standard cost.

Standard Price

The predetermined cost assigned to materials, labor, and overhead for the purpose of budgeting and cost control.

Actual Purchase Price

The specific cost paid for goods or services at the time of purchase, as opposed to the budgeted or standard cost.