Cyril owed Robert $12,000 but since he had lost his job, he could only pay $7,000. Reluctantly, Robert agreed, since they were old friends, to accept the lesser amount as full payment of the debt, and Cyril gave him the money. Now Robert has heard that Cyril has just won a huge amount in a lottery, but Cyril will not pay him the rest of the debt. "A deal's a deal," he says.

A) Since Cyril gave no consideration for Robert's promise to forgive the rest of the debt, Robert can successfully sue him for the balance.
B) While Robert would have been able to sue Cyril under Common Law, statute law says that, having accepted part of the debt as payment for the full amount, Robert cannot now demand the balance.
C) Whether or not Robert could successfully sue for the balance of the debt, the courts would not allow a debtor to be unjustly enriched in this way and would order Cyril to pay Robert the balance of the debt.
D) All of the responses are correct.
E) None of the responses are correct.

Leaders in many supply chains have started moving toward collaborative forecasting to improve their ability to match supply and demand.

What has been the effect of open markets and globalization on U.S. domestic business markets?

Which of the following financial statements is concerned with the company at a point in time?

A) Statement of financial position
B) Statement of income
C) Statement of changes in equity
D) Statement of cash flows

____ is the key to creating a sense of personal ownership of goals.

A) Feedback
B) Time-based pay
C) Clear policies and procedures
D) Employee participation
E) Incentive compensation

Initiating structure is the extent to which a leader defines and prescribes the roles of subordinates in order to set and accomplish goals in their areas of responsibility.