The ledger is a chronological, day-by-day, record of business transactions

When one party to a transaction has incentives to engage in activities detrimental to the other party, there exists a problem of

A) moral hazard. B) split incentives. C) ex ante shirking. D) precontractual opportunism.

Which of the following is an example of a message topic?

A) "To get the board of directors to increase the research and development budget" B) "Competitors spend more than our company does on research and development" C) "Funding for research and development" D) "The research and development budget is inadequate in our competitive marketplace"