Answer:
Her contract is C) A VOIDABLE CONTRACT
Explanation:
hope this helps :)
Millicents is selling old manufacturing equipment. The Plant Manager in charge of selling the equipment knows that the safety mechanism does not work. When a potential buyer asks Millicents' Plant Manager if there are any problems with the equipment, he assures the buyer that there are no problems. The buyer purchases the equipment based on the assurance that there is nothing wrong with it. The buyer may be able to sue Millicents for
Answer:
breach of express warranty
Explanation:
Since the plant manager expressly assured the buyer that the equipment had no problems and was working properly, if the equipment fails (as it did in the question), this is considered a breach of expressed warranty.
An express warranty is something specific that the seller (plant manager) tells the buyer about the product and how it should work.
Frank and Jesse are operating as a general partnership. A question has arisen that is not covered under their partnership agreement and also not addressed by the Revised Uniform Partnership Act. What will the courts do to resolve the situation
Answer:
The answer is:
The court will look to common law.
Explanation:
Common law is defined as a body of legal rules that are made by judges as they issue rulings on cases, as against rules and laws made by the legislature or in official statutes. it's also the a part of English law that's derived from custom and judicial precedent instead of statutes.
Another name for common law is case law
Escanaba purchased five-year debt securities on 1/1/21, which it plans to hold until maturity. At 12/31/21, the market value is 2% lower than carrying value. How should Escanaba report the 2021 unrealized loss?
Answer:
Escanaba should report their investment as held to maturity securities, therefore, they must be reported as non-current assets (since they mature in more than 1 year). Generally HTM securities are reported at their amortized cost.
This means that any change in their market price (gains or losses) will not be reported in the balance sheet nor the income statement.
Analysts are forecasting LifeTech Corporation's common stock price to be $120 at the end of one year. Also, LifeTech will pay a dividend of $2.60 one year from now. You plan to buy the stock now and sell at the end of one year. If you require a 13% return, what would you be willing to pay to buy the stock now
Answer:
Price to pay now for the stock = $96.278
Explanation:
The price of the stock would be the present value(PV) of the future cash flow expected from it discounted at the required rate of 13%
Hence we would add the present value of he dividend and the resent of he price at the end of the period
PV = CF × (1+r)^(-n)
CF- Cash Flow
R- rate of return- 13%
n- number of years
PV of dividend = 2.60 × (1.13)^(-1) = 2.30
PV of stock price after a year = 120× (1.13)^(-1) = 93.97
Price to pay now for the stock = 2.30 + 93.97 = $96.278
Price to pay now for the stock = $96.278
Which of the following statements accurately describes the relationship between earnings and dividends when all other factors are held constant?
A. Growth in earnings requires growth in dividends.
B. Retaining a higher percentage of earnings will result in a higher growth rate.
C. Long-run earnings growth occurs primarily because firms pay dividends to reward their shareholders for investing in the company.
Answer:
Statement B. Retaining a higher percentage of earnings will result in a higher growth rate.
Explanation:
The earnings are the profits that is left after paying interests and taxes and now all we have to do is pay the dividend. The company pays a percentage of earnings after tax as a dividend and the remainder is reinvested in the business. This helps the company to increase its earnings by reinvestment so that the company is able to lead in the market.
The earnings of the company are not affected by the dividend payout if the working capital is not affected because dividends are dependent on earnings. Hence the statement 1 is incorrect.
This means that the retaining higher percentage of earnings will increase the growth rate as the reinvestment has increased and it will increase the earnings. Hence the statement 2 is correct.
Company doesn't pay dividend to shareholders for reinvestment in the company. They pay dividends because the shareholders demand return on the risk associated with the investment. Hence the statement 3 is incorrect.
Janet and Chrissy want to move into an apartment near their school. They have agreed to divide all costs equally. They plan to use a broker to find their apartment. The broker charges 20% of the first month's rent as a finder's fee. Their first choice apartment rents for $850.00 per month. The landlord requires the first month's rent plus a security deposit of 1.5 month's rent. How much money will Janet need in order to move in to this apartment?
Answer: $1147.50
Explanation:
Monthly apartment fee = $850
Broker's charge = 20% of first month fee
Security deposit = 1.5 months rent
Therefore,
Broker's fee = 20% × $850
= 0.2 × $850 = $170
Security deposit = 1.5 × $850 =$1275
Total fee = $850 + $1275 + $170 = $2295
Since Chrissy and Janet are sharing the fee equally:
Janet's share :
50% of $2295 = $1147.50
Two years ago Joshua Ryan bought 100 XYZ at $60 per share. While he held the stock it paid dividends of $1 the first year and $1.50 the second year. Joshua sold the shares at $40 per share after a 2 for 1 stock split. How much gain or loss did he incur per share for tax purposes
Answer: He incur $10 per share for tax purposes.
Explanation:
Formula to calculate a gain or loss for tax purposes:
Gain or Loss for tax purposes = proceeds - cost basis
Cost per share = $ 60
After 2 for 1 stock split, the value of per share = (Cost per share) ÷2
= ($60) ÷2 = $30
Sale price of a share = $40
Since, $40 > $30, i.e. Sale price> Cost per share .So its a gain.
Gain= $40 - $30 = $10
Hence, he incur $10 per share for tax purposes.
Although True Ion Inc. and One Electro Inc. operate in the same consumer electronic industry, True Ion Inc. has better sales and brand equity. This is attributed to True Ion Inc.'s commitment to innovation. The company has adequate financial and human capital to invest in research and development, an area in which One Electro Inc. lags behind. In this scenario, which of the following critical assumptions of the resource-based view of a firm has been illustrated?
a. resource imitation
b. resource heterogeneity
c. resource immobility
d. resource value
Answer: b. resource heterogeneity
Explanation: Resource heterogeneity could be explained as the variation or difference in resources possessed by firms operating in the same market. These differences or diversity of resources plays a huge role in giving one firm the competitive edge over the other. In the scenario described above, True Ion Inc's innovative capability provided by it's resource-base due to human and capital investment gives it the competitive edge over other market competitors such as Electron Inc. whose resource-base lags in the aspect of innovation.
Bio-Lab Pharmaceuticals carried on a project to develop a new drug that dramatically shortened the recovery period for flu infection. The project cost the company $150,000 before Bio-Lab abandoned the project due to the slim possibility to gain FDA approval. Bio-Lab then spent $300,000 on another project developing a kind of shot that achieves the same goal for flu recovery, and the company is confident in gaining FDA approval for the new shot and in making profits out of the shot. What amount would be expensed
Answer:
$450,000
Explanation:
Calculation for the amount that would be expensed
Using this formula
Amount to be expensed = Project cost before the project was abandoned + Amount spent on another project
Let plug in the formula
Amount to be expensed =$150,000+$300,000
Amount to be expensed =$450,000
Therefore the amount that would be expensed will be $450,000
Mike Samson is a college football coach making a base salary of $651,600 a year ($54,300 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assuming the FICA base amount is $128,400.Compute how much will be withheld during the year for Coach Samson’s Social Security and Medicare.
What additional amount will the employer need to contribute towards FICA taxes?
Answer:
$7960.80; $9948.20 ; $17,409
Explanation:
Given the following :
Coach base salary = $651,600 ($54,300/month)
Social security tax = 6.2% upto maximum base amount
Medicare tax = 1.45% with no maximum
FICA base amount = $128,400
Coach Samson Social security and Medicare tax:
Social Security tax amount = 6.2% of $128,400
= 0.062 * $128,400 = $7,960.80
Medicare tax amount :
1.45% of $651,600
(1.45 / 100) * $651,600
0.0145 * $651,600
= $9948.20
Additional amount towards FICA taxes:
$7,960.80 + $9,948.20 = $17,409
Gondola Granola is an American health food grocery store chain with locations in 20 countries. When the company enters a new foreign market, it usually selects a combination of franchising and master subsidiaries. These master subsidiaries are joint ventures with local partners. Specifically, these joint ventures are politically more acceptable and they:________
a. help realize location and experience curve economies
b. avoid high transport costs.
c. ensure a steady stream of royalty payments.
d. tend to provide a higher control over technology
e. bring a degree of local knowledge to the subsidiary
Answer: e. bring a degree of local knowledge to the subsidiary
Explanation: According to the scenario described above, Gondola Granola having location in 20 countries makes it a foreign company in most of its countries where it is located. In other to thrive, Gondola Granola is partnering with local stores or companies (domestic companies in that country), this enables Gondola Granola to scale through most policy which might have hampered foreign establishment, These local partner also provides the required local knowledge or finesse which could aid Granola to thrive as they are more familiar with the culture of the country than the subsidiary.
Horton Stores exchanged land and cash of $5,000 for similar land. The book value and the fair value of the land given up were $90,000 and $100,000, respectively. Assuming that the exchange has commercial substance, Horton would record land-new at and record a gain/(loss) of:
Answer:
Land-new = $105,000 ; $10,000 gain
Explanation:
Given the following :
Exchange fee = land + $5000 cash
Book value of land given up = $90,000
Fair value of land given up = $100,000
The book value refers to the value of the land as stated in the balance sheet of the company, However, the fair value is the market price or value of an asset, which is also the price a buyer will pay for such asset.
Therefore, since the fair value is greater than the book value, that translates into a profit;
Fair value of land - book value of land
$100,000 - $90,000 = $10,000 gain
The land-new = Fair value of old land + the $5000 cash received
Land-new = $100,000 + $5,000 = $105,000
An investor does not need to constantly modify their portfolio make-up, but wishes to have a certain level of freedom to make adjustments to the portfolio over a 20-year timeframe. The investor would like to keep transaction costs and tax consequences as low as possible and likes to keep risk levels low as well. Which of the following would be good choices for an investor who has these characteristics?
It would be suitable for this investor to day trade using a high degree of leverage.
It would be suitable for this investor to use a rebalancing strategy.
It would be suitable for this investor to use a buy and hold strategy.
It would be suitable for this investor to use a strategic asset allocation approach.
[A] I and II only
[B] II and III only
[C] II and IV only
[D] III and IV only
Answer:
C. II and IV
Explanation:
Since the investor is aimed at maintaining his freedom to adjust the portfolio but also want to keep transactions cost, tax, risk, etc low, the investor will have to use a strategic asset allocation strategy or a rebalancing strategy.
This strategies helps to balance investments and allow investor flexibility. Unlike the other strategies in I and III, I has high risks involved as well as requires a high capital which is not conforming with the mindset of the investor. III on the other hand, keeps transaction cost and tax low but gives no freedom to the investor. This also negates the aim of the investor.
Cheers.
"You deposit $12,000 today into an account that pays you 12% annual interest, compounded daily. How much MORE will you have in 40 years, than if the compounding was only computed annually (as opposed to daily)
Answer:
$340,363.55
Explanation:
you need to calculate the future value of your deposit:
future value = present value x (1 + interest rate)ⁿ
present value = $12,000interest rate = 12% / 365 = 0.032877%n = 40 x 365 = 14,600future value = $12,000 x (1 + 0.032877%)¹⁴⁶⁰⁰ = $1,456,975.20
if the interest is compounded annually, the future value = $12,000 x 1.12⁴⁰ = $1,116,611.65
the difference = $1,456,975.20 - $1,116,611.65 = $340,363.55
Match each economic scenario with the correct economic term.
1. A country can produce more units of good B without reducing the units of good A it produces.
2. A country cannot produce more units of good A without producing fewer units of good B
3. A country wants to produce 10 units of good A and 12 units of good B but can produce only 5 units of good A and 4 units of good B.
a. efficiency
b. under utilization
c. unattainability
Answer:
The answer is:
1 - Underutilization
2 - Efficiency
3 - Unattainability
Explanation:
Efficiency in economics means a situation in which all resources are optimally distributed to serve each entity in the best way while minimizing waste and inefficiency.
Underutilization in economics is also a a situation in which lesser resources are being utilized than the economy is capable of utilizing.
Unattainability is a situation in which what one to accomplish or achieve is not possible.
1 - Underutilization
2 - Efficiency
3 - Unattainability
Anne Teek works full time as the manager of her used furniture store in which she has invested $40,000. Last year, her total revenues were $90,000 and her costs were $60,000 for merchandise, gas, electricity, and other explicit-cost items. Ms. Teek pays herself a "competitive" salary of $30,000 per year. An economist would consider her profits for the year to be
Answer:
C. $0 minus the opportunity cost of the $40,000 of capital invested in the store.
Explanation:
Data provided in the question
Invested amount for furniture = $40,000
Total revenues = $90,000
Miscelleanous Cost = $60,000
Competitive salary = $30,000
Based on the above information, the profits for the year is $0 that should be less the opportunity cost i.e $40,000 that represents the capital invested in the store and the same is to be considered
Hence, the correct option is c.
Suppose that a consumer has a health insurance program with co-payments of $10 per doctor visit. If the consumer purchases 6 doctor visits and the bill charged by the doctor for 6 visits is $360, the portion of this cost covered by a third-party payer is:
Answer:
$300
Explanation:
Given that s a health insurance program with co-payments of $10 per doctor visit.
Thus,
amount paid by insurance in 1 visit = $10
Amount paid by insurance in 6 visit = $10*6 = $60
Total bill charged by the doctor in 6 visit = 360
Amount paid by the consumer = Total bill charged by the doctor in 6 visit - Amount paid by consumer in 6 visit = $360 - $60 = $300
Since , consumer is the third party payer he pays $300 out of total $360 bill charged by the doctor.
In fraction ,portion of bill paid by the third party payer = 300/360 = 5/6
Thus, 5/6 portion of bill is paid by third party payer.
Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 7.80 pounds $ 2.30 per pounds $ 17.94 Direct labor 0.30 hours $ 8.00 per hour $ 2.40 During the most recent month, the following activity was recorded:
a. 25,900 pounds of material were purchased at a cost of $2.10 per pound.
b. All of the material purchased was used to produce 3,000 units of Zoom.
c. 700 hours of direct labor time were recorded at a total labor cost of $6,300.
Required: 1. Compute the materials price and quantity variances for the month.
2. Compute the labor rate and efficiency variances for the month.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Standard Cost Direct materials 7.80 pounds $ 2.30 per pounds $7.94
Direct labor 0.30 hours $ 8.00 per hour $ 2.40
Actual:
a. 25,900 pounds of material was purchased at a cost of $2.10 per pound.
b. All of the material purchased was used to produce 3,000 units of Zoom.
c. 700 hours of direct labor time were recorded at a total labor cost of $6,300.
To calculate the direct material price and quantity variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (2.3 - 2.1)*25,900
Direct material price variance= $5,180 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (7.8*3,000 - 25,900)*2.3
Direct material quantity variance= $5,750 unfavorable
To calculate the direct labor rate and efficiency variance, we need to use the following formulas:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (0.3*3,000 - 700)*8
Direct labor time (efficiency) variance= $1,600 favorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (8 - 6,300/700)*700
Direct labor rate variance= $700 unfavorable
Products can be returned for various reasons, such as product recalls, product damage, lack of demand, and customer dissatisfaction. This process is called______. Group of answer choices Reverse Auction Reverse Logistics Pull Forward Pull System
Answer:
Returned goods
Explanation:
The returned goods process is the process in which the goods are returned due to several reasons i.e damaged of the product, demand lacking, the customer is not satisfied with the product as the company does not meet the customer demand to the level of their expectation
Therefore this process we called returned goods
And this is the answer but the same is not presented in the given options
Microeconomics is best described as the study of the choices made by individual households, firms, and governments. inflation, unemployment, gross national product, and the nation's economy as a whole. how markets interact in the aggregate economy. marginal changes in the economy.
Answer:
the study of the choices made by individual households, firms, and governments.
Explanation:
Microeconomics refers to the study of the choices with respect to individuals, households, firms, governments in order to make the decision and the resources to be allocated in an efficient and effective manner
It also focused to maximise the production of the company so that the company could able to accomplish its sales by offering a lower price so that it also competes in the industry
Hence, the first option is correct
During strategy implementation, managers primarily focus on deciding the:________
a) type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice.
b) relationship between competitive advantage and firm performance.
c) industries and markets the firm should compete in to be able to gain and sustain a competitive advantage.
d) role strategic leaders should play in gaining and sustaining a competitive advantage.
Answer:
A) Type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice.
Explanation:
Strategy implementation is the translation of chosen strategy into organizational action so as to achieve strategic goals and objectives. Strategy implementation is seen to the forth class of management when it falls into strategy management. It can also be defined as the manner at which a said organization probably should develop, amalgamate and also utilize the organization by controlling its system structures and also its culture which is primarily led by strategies which is been used in its running. This makes manager primary focus on deciding always on the type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice.
During strategy implementation, managers primarily focus on deciding the type of corporate governance that is most effective and ways in which it can put the formulated strategy into practice. Thus, option A is correct.
Implementing a chosen strategy into organizational action in order to accomplish strategic goals and objectives is known as strategy implementation. When it comes to strategy management, strategy implementation is viewed as belonging to the fourth class of management.
It may also be described as the process by which a particular organization should grow, unite, and utilize itself by managing the system structures and culture, which are essentially governed by the strategies that have been employed in operating the organization. Because of this, the manager's top priority becomes determining the best form of corporate governance and how to implement the defined plan.
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Refined Grains, Inc., agrees to sell to Sunny Cereal Company a certain quantity of refined oats each week but no mention is made of where the goods are to be delivered. In general, the UCC requires that the delivery take place at
Answer:
Refined's place of business
Explanation:
Based on the information given about the business transaction that want to occur between Refined Grains inc and Sunny Cereal Company, UCC which is fully known as UNIFORM COMMERCIAL CODE requires that the delivery of the refined oat that Refined Grains inc agreed to sell to Sunny Cereal Company should take place at Refined place of business, which means a company that want to sell their product to another company must tend to carryout the delivery of the Refined product at the Refined place of the business
Paper Exchange has 80 million shares of common stock outstanding, 60 million shares of preferred stock outstanding, and 50 thousand bonds. If the common shares are selling for $20 per share, the preferred shares are selling for $10 per share, and the bonds are selling for 105 percent of par, what would be the weight used for preferred stock in the computation of Paper's WACC?
Answer:
26.64%
Explanation:
Common stocks outstanding (C) = 80 million
Preffered stock outstanding (P) = 60 million
Number of bonds (B) = 50,000
Cost of common stock (Cc) = $20 per share
Cost of Preffered stock (Cp) = $10 per share
Cost of bond (Cb) = 105% of par
Weight of preferred stock :
(P * Cp) / [(P*Cp) + (C*Cc) + (B * Cb * par value)]
(60mill * $10) / [(60mill * $10) + (80mill * $20) + (50000 * 1.05 * 1000)]
600mill / (600 mill + 1600mill + 52.5mill)
600,000,000 / 2252500000
= 0.2663706
= 26.64%
In 2004, Jamal lost his job as a shipbuilder. His shipyard never reopened, and his very specialized skills as a shipbuilder were no longer in demand. Jamal's unemployment is best classified as _____.
The best way to describe Jamal's unemployment would be Structural
The deregulation of an economy involves Multiple Choice increasing restrictions on direct investment by foreign enterprises and international trade. privatizing state-owned enterprises. exercising a high degree of state control over production and pricing. abolishing laws related to the protection of property rights. opposing democracy by adopting communism.
Answer:
abolishing laws related to the protection of property rights
Explanation:
The deregulation of the economy arises when the restrictions are removed by the government in order to improve the business operations for a specific industry so that their operations could be done in effective and efficient manner. Also, it would lead to a rise in competition
Therefore the economy deregulation consist of protection of the property rights with respect to the eradicate the laws
when managers focus on distinguishing the organizations products from those of competitors on one or more important dimessions such as quality or after sales service and support, this is considered a ___ startegy
Answer:
Differentiation strategy, is the right answer.
Explanation:
In Bussiness studies, a differentiation strategy is a method of developing the business by providing the customers with something different or unique from the items offered by their competitors in the marketplace. The increase in the competitive advantage is the main objective behind implementing a differentiation strategy. By analyzing its strengths, weaknesses, the needs of customers and the prices they can provide, a business can accomplish this.
Scenario 14-4 The information below applies to a competitive firm that sells its output for $40 per unit. • When the firm produces and sells 150 units of output, its average total cost is $24.50. • When the firm produces and sells 151 units of output, its average total cost is $24.55. Refer to Scenario 14-4. Suppose the firm is producing 150 units of output and its fixed cost is $975. Then its average variable cost amounts to
Answer:
average variable cost = $18 per unit
Explanation:
total production costs when producing 150 units = average total cost x total output = $24.50 x 150 = $3,675
total variable costs = total production costs - fixed costs = $3,675 - $975 = $2,700
average variable cost = total variable costs / total output = $2,700 / 150 units = $18 per unit
Congress enacted a statute appropriating money to the states on condition that the states use the money to support "public performances of classical ballet open to the public." The statute provided that the money was not to be used to support any other type of dance, and that tickets to any performance paid for with these funds were to be distributed to the public on a first come, first served basis. A state that accepted a grant of $500,000 under the federal statute gave half of the grant to a state-sponsored ballet company. The company had been started 20 years earlier as part of a state effort to bring culture to poor, inner-city areas. By state law enacted when the company was formed, no less than 35% of the tickets to each performance of the ballet company must be distributed to the inner-city school systems to be given to minority school children. Is the state's method of distributing tickets to the state ballet company's performances constitutional?
Answer:
The question does not mention what the remaining 65% are used for. If they are used to support "public performances of classical ballet open to the public," then we cannot conclude that the state's method of distributing tickets to the state ballet company's performances is unconstitutional.
Let us assume that the 65% left from the $500,000 special-purpose grant was used as per statute, then the state's method is constitutional, because the other 35% is still used for purpose, but only to encourage the participation of the vulnerable persons in the state.
If however, the 65%, amounting to $325,000 was used for another purpose, perhaps, to support any other type of dance other than "public performances of classical ballet open to the public," then the state would have obviously breached the law.
Explanation:
The evidence does not point to a conclusive unconstitutional act on the part of the state. Surely, more information is required in order to arrive at a better judgement.
What role do special government agencies play in protecting buyers? Check all that apply.
Answer:
Agencies create regulations to ensure safe products.
Agencies provide information about products and services.
Agencies collect buyers fraud complaints.
Special Government agencies make companies and businesses compete, by protecting the customers as well.
Explanation:
Answer:
A: They create regulations to ensure safe products
E: They provide information about products
F: They collect customer fraud complaints
Explanation:
on edge Good Luck!!!
Jenkins Inc., prepared its financial statement for 2008 based on the information given here. The company had cash worth $1,234, inventory worth $13,480, and accounts receivables of $7,789. The company's net fixed assets are $42,331, and other assets are $1,822. It had accounts payables of $9,558, notes payables of $2,756, common stock of $22,000, and retained earnings of $14,008. How much long-term debt does the firm have?
Answer:
$18,334
Explanation:
Given the following :
Cash worth = $1,234
Inventory worth = $13,480
Accounts receivable worth = $7,789
Net fixed asset = $42,331
Other assets = $1,822
Accounts payables = $9,558
Notes payables = $2,756
common stock = $22,000
Retained earnings = $14,008
Long term debt :
Total asset - current liability - stockholders equity
Total asset =current asset + net fixed asset + other asset
Current asset = cash worth + inventory worth + accounts receivables
Current asset = $(1234 + 13480 + 7789) = $22503
Total asset = $(22503 + 42331 + 1822) = $66656
Current liabilities = Accounts payables + notes payables
Current liabilities = $(9558 + 2756) = $12314
Stockholders equity = $(22,000 + 14,008) = $36,008
Long term debt :
Total asset - current liability - stockholders equity
$(66656 - 12314 - 36008) = $18,334