Which of the following statements is untrue? Select two.
Answer(s): B,C
There is no obligation to buy under a framework arrangement; and a framework can be used for consultancy services.
Contribution is equivalent to:
Answer(s): D
Selling price minus variable costs = contribution., or more accurately 'contribution towards fixed costs and making a profit'. I find this longer term for 'fixed costs' to be quite helpful in clarifying exactly what we are talking about here.
A contract clause indicating damages to be recovered in the event of under-performance, with the proposed damages being a genuine pre-estimate of loss, is called a:
Answer(s): B
Liquidated damages clause.The QUESTION NO : is pretty much a definition of a liquidated damages clause.
Win-win style negotiations are said to be:
Answer(s): A
Win-win negotiations require a collaborative approach.
Which one of the following is least likely to be a barrier to free trade?
Answer(s): C
Trading blocs eg EU, EFTA, ASEAN aim to free up trade within the bloc; the other answers of-fered will negatively affect free trade.
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