According to the "Spotlight on Small Business" Box in Chapter

question 253

Multiple Choice

According to the "Spotlight on Small Business" box in Chapter 14, Let's Dish and Dream Dinners have become successful in their market by:

• A)offering their dinner menus at a price that no other retailers, caterers, or restaurants can match.
• B) successfully targeting the top one percent of earners in each market in which they compete.
• C) offering their customers low-rate financing as a value enhancement if they agree to a full year dinner plan.
• D)creating a service that allows them to meet others, saves them time in preparing meals, and lessens stress.

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Definitions:

Liability

A legal responsibility or obligation, often of a financial nature.

Ratification

The act of giving formal consent to a treaty, contract, or agreement, making it officially valid.

Void

A legal term indicating that a contract or agreement is null, invalid, and has no legal effect.

Disaffirm

The legal act of denying or rejecting a contract or agreement, especially by a party who was not competent to enter it at the time of agreement.