In the context of the internal and external forces that affect business, which of the following is a difference between stable environments and dynamic environments?
A. The stable environment of a company is only related to the external factors affecting the company, whereas the dynamic environment of a company is only related to the internal factors affecting the company.
B. In stable environments, fundamental changes are observed in the environment, whereas in dynamic environments, incremental changes occur.
C. In stable environments, the rate of environmental change is slow, whereas in dynamic environments, the rate of environmental change is fast.
D. Companies with stable environments experience changing customer preferences and attitudes, whereas companies with dynamic environments experience a fixed set of customer needs.
Answer: C. In stable environments, the rate of environmental change is slow, whereas in dynamic environments, the rate of environmental change is fast.
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Baird,Carr and Falk hold title to farm land as joint tenants with rights of survivorship. Falk sells his ownership interest to Hart. which of the following statements is TRUE?
A. Hart now has severalty ownership. B. Baird and Carr are still joint tenants and Hart is a tenant in common. C. Baird, Carr and Hart are tenants in common. D. Baird, Carr and Hart are joint tenants.
Walter Able, as agent for Baker, an undisclosed principal, contracted with Safe to purchase an antique car. In payment, Able issued his personal check to Safe. Able could not cover the check but expected Baker to give him cash to deposit before the check was presented for payment. Baker did not do so and the check was dishonored. Baker's identity became known to Safe. Safe may not recover from
A. Baker individually on the contract. B. Able individually on the contract. C. Baker individually on the check. D. Able individually on the check.