The status of the contract between Mr. Green and Mr. Blue is that there is no contract because Mr. Green gave inadequate consideration, as he used coercion to obtain payment from Mr. Blue.
A contract requires an offer, acceptance, and consideration. In this scenario, there was an offer (not to burn Mr. Blue's business down), and acceptance (by Mr. Blue paying $100). However, the consideration provided by Mr. Green was inadequate because it was obtained through coercion (threatening to burn Mr. Blue's business down).
Therefore, there was no valid contract between Mr. Green and Mr. Blue. Coercion, or the use of threats, to obtain payment or other benefits, is illegal and can result in criminal charges.
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the second step in the marketing research approach involves developing the research plan. this includes specifying the
The second step in the marketing research approach involves developing the research plan. This includes specifying the research objectives, research design, data sources, research methods, sampling plan, and instruments to collect data. The research plan is developed after defining the problem and the decision to be made.
The second step in the marketing research approach involves developing the research plan. This includes specifying the research objectives, research design, data sources, research methods, sampling plan, and instruments to collect data. The research plan is developed after defining the problem and the decision to be made.
The research plan outlines the framework for conducting research activities, detailing what information is required, how it will be obtained, and how the research findings will be analyzed and reported. The research plan includes: Research Objectives: The research objectives specify the questions that need to be answered in the research study.
They outline the purpose and scope of the study and provide a clear direction for the research activities.
Research Design: The research design specifies how the research will be conducted, including the type of research, data collection methods, and sample size.
Data Sources: The data sources specify where data will be collected, including internal and external data sources.
Research Methods: The research methods specify how the data will be collected, including primary and secondary research methods.
Sampling Plan: The sampling plan specifies how the sample will be selected from the population, including the sampling technique, sample size, and sampling error.
Instruments to Collect Data: The instruments to collect data specify the tools and techniques that will be used to collect data, including surveys, interviews, and observations.
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advertising distorts the economy by multiple choice preventing free market economy. creating irrational and trivial consumer wants. internalizing market externalities. manipulating prices for promotion to gain a foothold in a market.
Advertising distorts the economy by creating irrational and trivial consumer wants. The correct answer is B.
Advertising can be seen as a form of persuasive communication that aims to influence consumers' purchasing behavior. Advertising distorts the economy by creating irrational and trivial consumer wants, which diverts resources away from more productive uses and towards short-term gains in sales.
One of the criticisms of advertising is that it can create irrational and trivial consumer wants by portraying products in a highly attractive and desirable way, even if the products themselves are not necessary or essential.
This can distort the economy by diverting resources away from more important and productive uses towards the production of goods and services that satisfy these irrational and trivial wants. This decreases economic efficiency and harms long-term economic stability. The correct answer is B.
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the term tax shield refers to the amount of income tax saved by deducting depreciation for income tax purposes. assume that supreme company is considering the purchase of an asset as of january 1, 2017. the cost of the asset with a five-year life and zero residual value is $110,000. the company will use the straight-line method of depreciation. supreme's income for tax purposes before recording depreciation on the asset will be $49,500 per year for the next five years. the corporation is currently in the 25% tax bracket. required: calculate the amount of income tax that supreme must pay each year if the asset is and is not purchased.
If Supreme purchases the asset, the tax shield will be $5,500 per year.
Define the term income tax?Income tax is a tax that is imposed by the government on individuals or entities based on their income or profits.
Annual Income for tax purposes: $49,500
Tax rate: 25%
Income tax: $49,500 x 25% = $12,375
The amount of income tax is calculated as follows:
Annual Income for tax purposes: $49,500 - $22,000 = $27,500
Tax rate: 25%
Income tax: $27,500 x 25% = $6,875
Tax Shield = Income tax without asset - Income tax with asset
Tax Shield = $12,375 - $6,875
Tax Shield = $5,500
Therefore, if Supreme purchases the asset, the tax shield will be $5,500 per year.
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when frankie was hired by the railroad, she was offered $17.50 an hour. her best friend grace, who started at the same railyard doing the same job two years ago, makes $33.75 an hour. this is an example of
This is an example of unequal pay for equal work.
Example of unequal payFrankie was hired for the same job as her friend Grace, yet she is earning almost half of what Grace makes for the same job.
This type of inequality is illegal and unethical, and should not be tolerated. The Equal Pay Act of 1963 requires that men and women be given equal pay for equal work. It stipulates that employers are prohibited from discriminating on the basis of sex when setting wages and prohibits unequal pay based on gender.
This applies to all forms of pay, including wages, salary, commissions, bonuses, and more. The unequal pay between Frankie and Grace is an example of an employer breaking this law.
This discrepancy in pay not only affects Frankie's quality of life, but it also contributes to a larger gender pay gap. Women on average make 79 cents for every dollar a man earns, which is an unacceptable gender gap that needs to be addressed.
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true or false: the ownership test addresses the question of whether a firm should own assets specific to a transaction. true false
True. the ownership test addresses the question of whether a firm should own assets specific to a transaction. It determines if the firm is financially and technically capable of owning and maintaining these assets.
What is the ownership test? The ownership test refers to an examination of the various things a corporation or organization must do to establish legal ownership of an asset, such as a building, machine, or piece of equipment. The owners are in a position of power over the assets since they can sell, lease, lend, or transfer them. The ownership test's primary objective is to determine the distinction between the owners' financial and managerial duties and those of the employees who operate or manage the assets. A firm must possess assets specific to a transaction in order to use them effectively. When it comes to carrying out their business activities, organizations must weigh the costs and advantages of having particular assets, such as plants and equipment, in their possession. The ownership test examines whether the firm has the financial and technical capabilities to buy and maintain the assets required for a transaction.
In conclusion, the ownership test addresses the question of whether a firm should own assets specific to a transaction. It determines if the firm is financially and technically capable of owning and maintaining these assets.
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if the average adult produces $17,000 of output per year, how much global output is lost annually as a result of adult deaths from secondhand smoke?
The global output lost annually as a result of adult deaths from secondhand smoke is difficult to estimate, as it depends on the mortality rate in the regions where secondhand smoke is most prevalent. However, it can be estimated by multiplying the average adult output ($17,000) by the mortality rate caused by secondhand smoke.
The average adult produces $17,000 of output per year. To calculate how much global output is lost annually as a result of adult deaths from secondhand smoke, we need to follow the steps below: Step-by-step explanation:
According to the given data, The average adult produces $17,000 of output per year.
To find out the global output lost annually due to adult deaths from secondhand smoke we need to determine the total number of adult deaths due to secondhand smoke every year.
Then, multiply the total number of adult deaths with the average annual output of $17,000.So, the formula is given below: Global output lost annually = Total number of adult deaths due to secondhand smoke * Average annual output of $17,000
We do not have the data of the total number of adult deaths due to secondhand smoke every year. Therefore, it is impossible to find the value of global output lost annually.
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the journal entry to record the payment for merchandise previously purchased on account will cause stockholders' equity to .
The journal entry to record the payment for merchandise previously purchased on account will cause stockholders' equity to remain unchanged.
What is the Journal Entry?The journal entry to record the payment for merchandise previously purchased on account is as follows:DateAccount TitleDebitCreditXX/XX/XXXXAccounts PayableXXXXCashXXXXThis journal entry reflects that a company is paying off its accounts payable (liabilities) to a vendor. Since accounts payable are part of the liability component of the balance sheet and not the equity component, the payment of accounts payable will not alter the equity component (stockholders' equity).What is Stockholders' Equity?The residual interest in the assets of a company after deducting liabilities is referred to as stockholders' equity.
It is the total sum of a company's common stock, additional paid-in capital, and retained earnings. Stockholders' equity is reported on the balance sheet and represents a company's net worth. A company's stockholders' equity is not affected by the payment of accounts payable as accounts payable falls under the liability section of the balance sheet.
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in the quadrant of the core competence--market matrix, the focus is on leveraging current core competencies to improve current market position. multiple choice question.
The core competency-market matrix's fourth quadrant focuses on utilising present core competencies to strengthen the current market position. This gives businesses a competitive advantage.
What are the four criteria used to identify the core competencies of a company's capabilities?A resource or capability contributes to a company's competitive edge over industry competitors and enables the firm to achieve profitability if it fits the following conditions. If a resource or skill is precious, uncommon, expensive to duplicate, and non-replaceable, it qualifies as a core competency.
How can having a competitive edge come from core competencies?Organizations can obtain a competitive edge through the development of their core competencies, which has the specific benefit of raising sales and profits. Businesses accomplish this by being innovative while creating new products and services.
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typical costs included in a construction project include multiple choice question. property, plant, and equipment. interest and taxes. selling, general, and administrative. labor, materials, and overhead.
The typical costs included in a construction project include all : Property, Plant, and Equipment; Interest and Taxes; Selling, General, and Administrative; and Labor, Materials, and Overhead.
Property, Plant, and Equipment are necessary costs of a construction project as they are the investments in land, buildings, and equipment that are needed to create the physical construction project.
Interest and Taxes are necessary costs of a construction project as they are the taxes and interest associated with the loan used to finance the construction project.
Selling, General, and Administrative are necessary costs of a construction project as they include the costs associated with the day-to-day operation of the project such as marketing, accounting, and administration.
Finally, Labor, Materials, and Overhead are necessary costs of a construction project as they are the costs associated with the physical labor, materials, and the indirect costs associated with the project.
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which of the following statements regarding triangular arbitrage true? both a and b it can involve trading out of the us dollar into a second currency, then trading it for a third currency, which is in turn traded for us dollars. the purpose is to earn an arbitrage profit via trading among three currencies, where the direct cross-exchange rate between the second and the third currency is not in alignment with the implied cross-exchange rate. neither a or b
Triangular arbitrage is a process where investors use three different currencies to achieve a profitable conversion process. As per the given options, option (a) and (b) are correct, which means that both statements are true. Hence, the correct option is "Both a and b.
"Triangular arbitrage can involve trading out of the US dollar into a second currency, then trading it for a third currency, which is in turn traded for US dollars. The purpose of this arbitrage is to earn a profit by trading among three currencies, where the direct cross-exchange rate between the second and third currency is not in alignment with the implied cross-exchange rate.There are three stages involved in the triangular arbitrage process. First, an investor converts the base currency (usually USD) into a second currency, then the second currency into a third currency, and finally, the third currency back into the base currency. The investor can make a profit if the rate of conversion is profitable.The process of triangular arbitrage involves exploiting the differences in exchange rates between the three currencies, and there is always a risk involved. It is not a guaranteed profit, and if executed incorrectly, the investor may incur a loss.
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alice lost her atm card at the lake and forgot it was missing until her monthly statement came 26 days later. she found that $800 had been withdrawn from her savings account. the most alice will be legally liable for assuming she notifies the bank at this point is
Alice will be legally liable for up to $50 of the $800 that was withdrawn from her savings account, assuming she notifies the bank within two days of when she noticed her ATM card was missing. This is known as the "regulatory limit" for unauthorized transactions, and it is outlined in Regulation E of the Electronic Funds Transfer Act.
1. Alice noticed her ATM card was missing 26 days after it was lost.
2. She then notified the bank.
3. According to Regulation E of the Electronic Funds Transfer Act, the most Alice will be legally liable for is up to $50 of the $800 that was withdrawn from her savings account.
Therefore, t is clear that Alice will be legally liable for up to $50 of the $800 that was withdrawn from her savings account, assuming she notified the bank within two days of when she noticed her ATM card was missing.
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a common use of business plans is to: group of answer choices comply with sec regulations persuade lenders and investors to finance the venture persuade customers to buy the new product or service use as a recruitment tool showcase innovative factors to production to make the company a success
A business plan is most frequently used to convince financiers, investors, or both to offer funding. These two groups pursue distinct objectives.
How a recruitment tool showcase innovative factors to production to make the company a success?
The strength of your business concept and the management team's capacity to make your endeavor profitable are of great importance to investors. A business plan is frequently used to convince lenders and investors to fund the endeavor. They can decide whether to invest thanks to the plan's comprehensive details. A business plan may take months to prepare, but it must pique the interest of potential investors immediately. Business plans are used by both new and existing businesses.
A business plan is a crucial document intended for both internal and external audiences of a firm. For instance, before a business has built a solid track record, a business plan is utilized to entice investment. The most typical type of legal structure for small firms is the sole proprietorship. Taxation: The taxation of a sole proprietorship is pass-through.
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which of the followig people would prioritizing returns over liquidity be the most productive choice
Prioritizing returns over liquidity would be the most productive choice for a long-term investor.
When one prioritizes returns over liquidity, they invest in a longer-term asset that provides a higher rate of return, rather than one that is more liquid, meaning that it is more easily converted into cash. The following people would benefit the most from prioritizing returns over liquidity: Long-term investors are individuals who prioritize long-term gains over short-term gains.
Prioritizing returns over liquidity would benefit them because they are in it for the long haul and want to earn a high return on their investment over time. They are not seeking for instant returns or quick liquidity, but rather to grow their assets over time. Portfolio managers, hedge funds, and mutual funds, for example, are organizations that manage money for their clients. By prioritizing returns over liquidity, they can provide their customers with a higher rate of return on their investments over time, resulting in satisfied clients and, as a result, more business.
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what consequence for violations would be necessary to incentivize business owners to comply with the regulation for minimum wages?
Violations of the regulation for minimum wages could result in fines, suspension of business licenses, or both.
To ensure compliance, business owners need to be aware of the consequences they could face if they do not adhere to the regulation.
The consequence for violations that would be necessary to incentivize business owners to comply with the regulation for minimum wages is to impose strict penalties and fines.
Minimum wages are the least amount that an employer can legally pay their workers for services rendered. The purpose of minimum wage is to offer an appropriate wage floor for workers to prevent businesses from paying employees very low salaries.
Regulation is a government directive , act or restriction that governs various business activities.
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what is the best factual book on how the world works, economics of the world , and human behavior analysis
The best factual book on how the world works, economics, and human behavior analysis is "The Worldly Philosophers" by Robert Heilbroner.
This book provides a comprehensive overview of how economic systems and ideas have developed throughout history.
It delves into how economic systems and philosophies have influenced world history and how various ideologies shape our modern world. It is a great resource for learning about economics, human behavior, and the world.
The Worldly Philosophers provides an in-depth exploration of the development of economic thought throughout history. It focuses on the major economic theories and thinkers, such as Adam Smith and Karl Marx.
It explains how these ideologies have influenced our world today, as well as how different cultures have approached economic systems. It also covers topics like technology, population growth, and global markets. This book provides an easy-to-understand and comprehensive understanding of the world's economy and how it works.
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you purchase a city of phoenix bond that is paying 5.45%, if you are in the 32% tax bracket, what is your tax equivalent yield?
The tax equivalent yield while purchasing a city of phoenix bond that is paying 5.45%, if there is 32% tax bracket is 7.94%.
What is the tax equivalent yield?The tax equivalent yield for a city of Phoenix bond paying 5.45, if you are in the 32 tax bracket, can be calculated using the following formula:
Tax Equivalent Yield = Bond Yield / (1 - Tax Bracket).
In this case, the tax-equivalent yield would be 7.94. This means that if the bond were tax-free, it would need to yield 7.94 in order to be equivalent to a 5.45 yielding bond with a 32 tax bracket.
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contingency reserves require a construction company to hold back some funds in an account just in case something happens that increases the overall project cost. true false
The given statement " contingency reserves require a construction company to hold back some funds in an account just in case something happens that increases the overall project cost " is TRUE because of Contingency reserves require a construction company to hold back some funds in an account just in case something happens that increases the overall project cost.
Contingency reserves can be defined as a percentage of the total project cost that is held in reserve to pay for unforeseen expenses.
In the construction industry, there are always unforeseen events that can disrupt a project. Contingency reserves are set up in the event of these circumstances. Construction projects are usually subjected to unforeseen problems that might affect the project outcome, increase costs or delay the work's progress.
Therefore, construction companies typically reserve a percentage of their budget for unexpected costs that might occur during a project. These unexpected costs can result from such factors as inflation, delays, and changes in the cost of goods or services.
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in a real estate transaction, who may a licensee represent? unset starred question a client a client or customer a customer a principal or customer
In a real estate transaction, a licensee may represent a client or a customer. What is a real estate transaction? A real estate transaction is the process of transferring ownership of a property from one party to another. It is an important process that is usually facilitated by real estate professionals such as agents, brokers, and real estate attorneys. The transaction can involve a wide range of properties such as land, residential homes, commercial buildings, and others.
The goal of a real estate transaction is to ensure that both parties involved in the transaction are satisfied with the outcome. What is a licensee ?A licensee is an individual who is authorized by a state regulatory agency to practice a profession or conduct a business. In real estate, a licensee is an individual who has passed a real estate licensing exam and is authorized by the state to represent clients or customers in real estate transactions.
Licensees can work as real estate agents, brokers, or salespeople, depending on their level of education and experience. Who may a licensee represent in a real estate transaction? A licensee may represent a client or a customer in a real estate transaction. A client is someone who hires the licensee to represent them in the transaction. The client may be a seller or a buyer.
A licensee who represents a client owes them certain fiduciary duties such as loyalty, confidentiality, obedience, accounting, and disclosure. A customer, on the other hand, is someone who seeks the assistance of the licensee in the transaction but does not hire them.
A licensee who represents a customer owes them certain duties such as honesty, fairness, and disclosure. The licensee must provide customers with accurate information about the property and answer their questions truthfully.
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a grid that links product requirements from their origins (e.g., business reason needed, stakeholder who requested them) to the deliverables that satisfy them is referred to as a .
A grid that links product requirements from there to the deliverables that satisfy them is referred to requirements traceability matrix
In the requirements traceability matrix, the typical attributes used may include a unique identifier, the rationale for inclusion, priority, owner source, version, a textual description of requirements, current status, and status date. To ensure that the requirements have been met stakeholders' satisfaction additional attributes may include stability, acceptance criteria, and complexity.
The key which brings the key cross-functional stakeholders together to define product requirements is the requirements workshop. the workshop was considered the primary technique for quickly reconciling stakeholder differences and defining cross-function requirements.
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on average, managers spend most of their time doing which managerial activity? group of answer choices traditional management communication human resource management networking systems
On average, managers spend most of their time on traditional management activities. These activities typically involve developing policies, processes, and procedures; monitoring performance; coordinating projects; and developing strategies.
These activities can also involve communication, human resource management, and networking systems, but typically traditional management activities take up the most of a manager's time. Traditional management activities are the primary focus of most managers. These activities are essential to running an effective organization, and involve the development and implementation of policies, processes, and procedures; monitoring performance and measuring outcomes; coordinating projects and people; and developing strategies.
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Market Equilibrium: Market for gasoline
The market for gasoline is good example of the market equilibrium.
What is market equilibrium?Market equilibrium is the point where the supply of a particular good or service in a market is exactly equal to the demand for it. At this point, buyers and sellers are satisfied with the prevailing market price, and there is no tendency for it to change. When the price is below the equilibrium level, demand will exceed supply, and there will be a shortage of the good, leading to upward pressure on prices. Conversely, when the price is above the equilibrium level, supply will exceed demand, and there will be a surplus of the good, leading to downward pressure on prices. The market tends to adjust towards equilibrium as buyers and sellers adjust their behavior in response to price signals.
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three partners in a business receive profits in the ratio of 2:4:8 . a fourth partner automatically receives $50,000 profit. the company during the year has a profit of $400,000. what are the amounts for the other three partners? a each partner receives $150,000. b each partner receives $116,667. c the first partner receives $64,286. the second partner receives $128,572. the third partner receives $257,144. d the first partner receives $50,000. the second partner receives $100,000. the third partner receives $200,000
The amounts for the other three partners are: c) the first partner receives $64,286, the second partner receives $128,572, and the third partner receives $257,144.
A profit is the excess revenue that remains after accounting for all expenses, debts, and operating costs. If a business receives profits, it implies that the revenue generated by the company exceeds the total costs incurred by it. The profit-sharing ratio of the other three partners is 2:4:8.The profits for the other three partners are calculated by multiplying the profit-sharing ratio by the profit of the company.
Since the fourth partner has already been given $50,000, this sum is deducted from the total profit before calculation. For the first partner: (2/14) × ($400,000 – $50,000) = $64,286For the second partner: (4/14) × ($400,000 – $50,000) = $128,572For the third partner: (8/14) × ($400,000 – $50,000) = $257,144
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Determine which of the items below would show up on a monthly bank statement.
- Deposits and other credits increasing the account during the period
- Checks and other debits decreasing the account during the period
- Beginning-of-period balance in the account
- End-of-period balance in the account
A monthly bank statement is a report that details all transactions made in a bank account during a specific period of time. End-of-period balance in the account is one of the items that would show up on a monthly bank statement.
A bank statement provides information regarding a bank account that an account holder uses to manage their money. Banks generally issue monthly statements to their customers. The statement includes a list of all transactions made during the month, as well as the beginning and ending balances.The statement also shows the beginning balance of the account, the deposits made during the month, the withdrawals made during the month, and the end-of-period balance in the account. Checks, automated teller machine (ATM) transactions, and electronic transfers are all examples of transactions that may be found on a bank statement. The statement also shows any fees charged for account management, such as overdraft fees, monthly service fees, or ATM fees.Bank statements serve as an important financial record that individuals can use to manage their money. Account holders can compare their receipts and their bank statements to ensure that all transactions are accounted for and to check for any discrepancies.https://brainly.com/question/15525383
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Hi! A monthly bank statement provides an overview of your account activity, including deposits, withdrawals, fees, and interest earned. In relation to the end-of-period balance, the items that would show up on a monthly bank statement are:
1. Beginning balance: The account balance at the start of the month.
2. Deposits: Money added to the account, such as salary, transfers, or cash deposits.
3. Withdrawals: Money taken out of the account, like ATM withdrawals, check payments, and electronic transfers.
4. Fees: Any charges imposed by the bank, including account maintenance, overdraft, or ATM fees.
5. Interest earned: If the account earns interest, this amount will be included.
6. End-of-period balance: The final balance in the account after accounting for all transactions during the month.
These items provide a comprehensive summary of your account's financial activity, allowing you to track your spending, ensure accuracy, and maintain a healthy financial status.
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thirty percent of the total assets of shanahan corporation have been financed through borrowing. the total liabilities of the company are $870,000. what is the amount of owners' equity?
Thirty percent of the total assets of shanahan corporation have been financed through borrowing. the total liabilities of the company are $870,000. The amount of owners' equity is $1,245,000.
If 30% of the total assets have been financed through borrowing, then the remaining 70% must be financed through owners' equity. Use this information to find the total assets of the company:
100% - 30% = 70% (financed through owners' equity)
70% of Total assets = Owners' equity
We know that the total liabilities of the company are $870,000, so we can use this information to solve for owners' equity:
0.7(Total assets) = Owners' equity
Total liabilities + Owners' equity = Total assets
$870,000 + 0.7(Total assets) = Total assets
0.3(Total assets) = $870,000
Total assets = $2,900,000
Owners' equity = 0.7(Total assets) = $1,245,000
Therefore, the amount of owners' equity for Shanahan Corporation is $1,245,000.
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phil has $2,000 and he needs it to grow to $4,000 in 8 years. assuming he adds no more money to this fund, what rate of return would he need to earn?
Phil would need to earn a 9% rate of interest to grow his $2,000 to $4,000 in 8 years, which can be calculated using the compound interest formula.
To calculate the required interest rate, we can use the formula for compound interest:
[tex]A= P (1+\frac{r}{n}) ^{nt}[/tex]Where A is the ending balance, P is the principal (starting balance), r is the annual interest rate, n is the number of times the interest is compounded per year, and t is the number of years.
In this case, we know that P = $2,000, A = $4,000, t = 8 years, and n = 1 (since the problem does not specify how frequently the interest is compounded). Plugging these values into the formula and solving for r, we get:
$4,000 = [tex]$2,000(1 + r/1)^(1*8) 2,000+ (1+\frac{r}{1}) ^{1x8}[/tex]2 = [tex](1+r}) ^{8}[/tex]8th root of 2 = 1 + rr = 8th root of 2 - 1r = 0.0905 or 9% (rounded to the nearest whole number)Therefore, Phil would need to earn a 9% rate of interest to grow his $2,000 to $4,000 in 8 years.
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question content areaxyz co. received $3,000 in payments from clients for services billed in a previous month. which accounts will be affected and by what amounts under the accrual basis of accounting
Under the accrual basis of accounting, the payment received by Co. from clients for services billed in a previous month will affect two accounts - Accounts Receivable and Cash. The Accounts Receivable will increase by $3,000 and Cash will increase by the same amount.
When a company provides services, it records the revenue in Accounts Receivable. This means that it records the amount the customer owes to the company in Accounts Receivable. The customer is then given time to pay the amount due. When the customer pays the amount due, the Accounts Receivable decreases and Cash increases.
In this case, when the customer pays the company for services provided, the Accounts Receivable account will decrease by $3,000, and Cash will increase by the same amount.
The decrease in Accounts Receivable reflects the fact that the company has been paid for the services, and the increase in Cash shows that the company now has the cash in hand to cover the services provided.
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performance and breach under what circumstances should courts not allow fully informed contracting parties to agree to limit remedies? describe a specific situation where the contracting parties could or could not limit remedies. what societal and/or business principles might be involved in a court's decision?
The circumstances under which courts may not allow fully informed contracting parties to limit remedies are given below: If the law does not permit it.The limitation of the remedy is unconscionable. In this particular case, the contracting parties could not restrict remedies if the limitation of the remedy is unconscionable. The principles of society include: the duty of care, fairness, social justice, and common law precedent
However, courts may disregard certain provisions of a contract because they are deemed to be unconscionable, unfair, or contrary to public policy.
.In the context of contractual remedies, the principle of fairness dictates that the remedy provided in a contract must not be unconscionable. The principles of duty of care and social justice demand that contractual terms that are contrary to the public interest should be disregarded.
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what happened to the price and quantity of of straw brooms, when the price of plastic brooms increases?
When the price of plastic brooms increases, the price of straw brooms decreases, while the quantity of straw brooms demanded increases.
This is a result of the substitution effect.
The substitution effect is the change in consumer behavior in response to a change in the price of a good or service. As the price of one good rises, consumers will switch to a cheaper substitute.
For example, if the price of beef increases, consumers may switch to chicken, fish, or pork. The substitution effect occurs because consumers seek to maintain their standard of living by purchasing goods and services at the lowest possible price.
Based on this concept, when the price of plastic brooms increases, consumers may switch to straw brooms since they are cheaper. This results in an increase in the quantity of straw brooms demanded.
On the other hand, the demand for plastic brooms will decrease, leading to a decrease in the quantity of plastic brooms demanded. Consequently, the price of straw brooms will decrease since they are now in high demand, while the price of plastic brooms will increase due to the low demand.
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suppose that the demand for toilet paper is highly inelastic, and the supply of toilet paper is highly elastic. a tax of $0.10 per roll levied on toilet paper will decrease the effective price received by sellers of toilet paper by
The tax of $0.10 per roll levied on toilet paper will decrease the effective price received by sellers of toilet paper by $0.10. This is because the demand for toilet paper is highly inelastic and the supply is highly elastic.
This means that a small increase in the price of toilet paper will have a large decrease in the quantity of toilet paper that is supplied. Therefore, the tax of $0.10 per roll will have a larger impact on the price of toilet paper than the impact of the tax on the demand.
If the demand for toilet paper is highly inelastic, it means that consumers are not very responsive to changes in price. This means that a change in price would have a relatively small impact on the quantity of toilet paper demanded.
On the other hand, if the supply of toilet paper is highly elastic, it means that producers are able to respond quickly and effectively to changes in price, such as by increasing or decreasing production levels.
Given this scenario, if a tax of $0.10 per roll is levied on toilet paper, the effective price received by sellers of toilet paper would decrease by less than $0.10. This is because sellers are likely to pass on some of the tax burden to consumers by increasing the price of toilet paper.
However, because the demand for toilet paper is highly inelastic, consumers are unlikely to significantly decrease their purchases of toilet paper in response to the price increase. Therefore, the price increase is likely to be relatively small.
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alice and her four siblings are starting their own home design business. one of their primary goals is keeping the loving relationship they currently enjoy, so they are following the model business corporation act recommendations as they write their partnership agreement. what is an accurate recommendation of the act?
The Model Business Corporation Act recommends that Alice and her four siblings create a partnership agreement that clearly lays out each partner's rights and responsibilities, along with the rules of management and decision-making.
One of the accurate recommendations of the Model Business Corporation Act that the siblings should follow while writing their partnership agreement for their home design business is: They must include the detailed provisions that govern the rights and duties of the partners within the business, including the standards for the sharing of profits and losses, the termination of the partnership, and the fiduciary duties owed by the partners towards each other.
Model Business Corporation Act (MBCA) is a standardized law enacted by states in the United States for the governance of business corporations. It specifies the various rules and regulations governing the formation, management, and dissolution of corporations. The MBCA also recommends the legal requirements that all corporations must comply with.
According to the question, Alice and her four siblings want to establish their home design business. They want to maintain their loving relationships with each other, so they have decided to follow the recommendations of the Model Business Corporation Act while writing their partnership agreement.
The siblings should keep in mind that a partnership agreement is an essential document that specifies the various rights and duties of partners, the duration of the partnership, the investment of capital, the sharing of profits and losses, and the termination of the partnership.
It is therefore important that they include the detailed provisions that govern the rights and duties of the partners within the business, including the standards for the sharing of profits and losses, the termination of the partnership, and the fiduciary duties owed by the partners towards each other.
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