Which of the following is a major duty of a financial manager?
I. To make investment decisions
II. To make financing decisions
III. To manage cash flow from operating activities
A) I only
B) I and II only
C) I and III only
D) all of the above
Answer: D
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The difference between the price for which travel agencies can obtain the service and the price they can charge when selling the service is called ____
A. commission B. markup C. discount D. value-added service
Aunt Ellie promises her 21-year-old nephew, Robbie, that she will pay him $100 if he quits smoking for a month. If Robbie does, is there a binding contract?
A) No, because Robbie gave no benefit to Aunt Ellie B) No, because Robbie did not suffer any detriment C) Yes, because stopping smoking will benefit Robbie's health D) Yes, because Robbie gave up a legal right