Which of the following statements about decision-making is true?
A) Risk should not be taken into account.
B) Objectives should be quantitative and not qualitative.
C) Opportunity cost should be considered.
D) Sunk costs should usually be taken into account.
C
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Companies that pursue a clear strategy will likely perform well. Firms that do not pursue a clear strategy are called ________
A) jack-of-all-trades B) middle-of-the-roaders C) niches D) red oceans E) laggards
Which of the following terms refers to a contribution by those jointly involved in a maritime venture to make good the loss by one of them for his voluntary sacrifice of a part of the ship or cargo to save the residue of the property and the lives on
board, or for the extraordinary expenses necessarily incurred for the benefit and safety of all? A. dead freight B. maritime lien C. general average D. particular average