Obligations that depend on past events and that are based on future possible events are contingent liabilities

The president of a Mexican company recently remarked, "Business in Mexico is done on a consensus basis, very genteel and sometimes slow by U.S. standards." A few months later, the Mexican company and its U.S. joint venture partner parted company

Judging by the president's remark, one important reason for the "divorce" was: A) failure of one partner to live up to the terms of the contract. B) cultural differences. C) the cancellation of NAFTA. D) the U.S. government's insistence on quick negotiations. E) the language barrier.

In the classic linear approach, identify the stage of the new product development process in which the company determines the markets it wants to enter

A) opportunity identification B) testing and concept development C) initial design and concept screening D) life cycle management