A Travel Agent Adds Value by Creating an Itinerary That

question 35

Multiple Choice

A travel agent adds value by creating an itinerary that includes transportation,accommodations,and activities that are customized to your budget and travel dates.In terms of the value-chain analysis,this is an example of a ________ organization.

• A) retail
• B) service
• C) manufacturing
• D) travel

Analyze the conditions under which title and risk of loss pass from seller to buyer in various sales contexts.

Discern the legal requirements of tender in a goods sale.

Understand the legal effects of contracts and how title, possession, and risk of loss are transferred.

Recognize how the UCC addresses good faith purchases and sales involving minors or entities lacking authority.

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Definitions:

Direct Labor Hours

The total hours worked by employees directly involved in the production of goods or providing services.

Journal Entry

A record in accounting that notes the details of a financial transaction in a company’s financial systems.

Raw Materials

Basic materials that are used in the production process to manufacture goods, often transformed or converted into the finished product.

Journal Entry

A record in the books of account that represents a transaction and its effect on the accounts, typically including a debit and credit.