Which of the Following Is Least Likely to Be a Value-Added

question 32

Multiple Choice

Which of the following is least likely to be a value-added activity?

• A) Training production staff
• B) Complying with the Sarbanes-Oxley Act
• C) Negotiating volume discounts for freight
• D) Preparing a flowchart of the billing process

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Definitions:

Force Majeure

A major, unforeseen, or unanticipated event that occurs and prevents the performance of a contract.

Frustrated Contracts Act

Legislation that deals with contracts that, through no fault of either party, cannot be fulfilled due to unforeseen events.

Termination Clause

A provision in a contract that outlines the conditions under which the agreement can be ended prior to the completion of its term.

Deposit

A sum of money placed in an account or given as security for the performance of an obligation, which may be refundable.