The College of Business at a Major University Is Considering

question 86

Multiple Choice

The College of Business at a major university is considering the purchase of technology necessary to enable them to put their curriculum online. This decision is very important and includes a very large and evolving decision-making unit. Which type of organizational purchase situation does this represent?

• A) nominal
• B) straight rebuy
• C) modified rebuy
• D) new task
• E) limited

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Definitions:

Foreseeable Loss

A loss that a party ought reasonably to have seen coming as a possible outcome due to their actions or inactions.

Legal Tender

Currency that must be accepted if offered in payment of a debt by law.

Mechanic

A skilled worker responsible for repairing and maintaining machinery, vehicles, and other equipment.

Exemption Clause

A provision in a contract that limits or eliminates one party's liability for certain acts or omissions.