A seller sold a property without disclosing that a third party might have a valid claim to the property. Has marketable title been conveyed by the seller?
A. Yes, all claims are canceled at closing.
B. Yes, the third party did not claim ownership at the time of transfer.
C. No, because there is a potential cloud on the title.
D. No, the seller violated the Statute of Frauds.
Answer: C. No, because there is a potential cloud on the title.
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A computerized inventory system that simulates needed materials requirements for the finished product, and then compares production needs to available inventory balances to determine when orders should be placed is the ________
A) basic economic order quantity system B) materials requirement planning system C) just-in-time system D) red-line method
Accounting practices are affected by all of the following except:
A. Political systems. B. Economic systems. C. Technology and infrastructure. D. Management knowledge of accounting practices.