The Buying Firm, No Matter How Powerful, Should Attempt to Obtain

question 31

Multiple Choice

The buying firm, no matter how powerful, should attempt to obtain a ___________ and good consensus.

• A) fair price
• B) market price
• C) discount price
• D) low price
• E) standard price

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Definitions:

Liability Threat

A potential for being held responsible under law for injury or damage, posing a risk to individuals or organizations.

Ordinarily Prudent Person

A legal standard used to represent how the average person would responsibly act in a particular situation.

Professional Conduct

The standards of behavior and ethical practices expected of individuals in a professional context.

Fraud

Fraud is a deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.