Refer to the scenario above. Which of the following is similar to the given scenario?
A) As an owner of a retail store, Jeremy decides to cut off his supplier in order to switch to a different supplier with lower prices.
B) A forest officer allows a tribal community living in the forest to cut trees for personal use.
C) Albert, who runs a sports goods store, declines a consignment of shoes from a manufacturer after learning that working conditions at the factory were extremely poor.
D) Naomi, a designer in Georgia, refuses to pay for a damaged shipment of material that arrived via courier from India.
Answer: B
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Which of the following transactions that impact current liabilities has a corresponding entry on the income statement?
A. Interest accrued on a note payable B. Purchase inventory on credit from company XYZ on January 1 C. Payment to XYZ on February 1 for a January 1 purchase D. Payment to employees in March for wages earned in February
Suppose that the right-hand-side value of a given binding constraint is increased by one unit and within the lower and upper limit
Instead of rerunning the solution, the decision maker can simply check the shadow price to know the exact change of the objective function. a. True b. False