Answer:
Hanna is correct.
Explanation:
The sale of the 2004 Dodge cannot be construed to be a sale of goods under the Uniform Commercial Code since this law covers sales of goods by merchants. Hanna cannot be said to be a merchant of 2004 Dodge as she is not known to be in the business for the purchase and sale of cars. Therefore, the case should be adjudicated under the common law. What has taken place in this instance is the exchange of a personal asset. Hanna cannot make a trading profit from the sale, but a capital gain. Rachel is not correct.
Answer:
Net Income for the year is $41700
Explanation:
The accounting basis that is generally followed by the businesses is the accrual basis of accounting. The accrual principle states that incomes and expenses should be recorded and recognized in the period to which they relate to rather than in the period where cash is received or paid.
This means that we will record income and expenses related to this year in this year's profit calculation even when we have not received or paid cash for such incomes and expenses.
Thus, net income for this year will be calculated as,
Net Income = Total Sales Revenue - Total expenses
Net income = 113000 - 71300
Net Income = $41700
Answer:
The answer is Conglomeration
Explanation:
This is a term that describes the process by which a conglomerate is created, and a conglomerate is a corporation that owns a number of different businesses that are unrelated.
Another trait of a conglomerate is that every one of the conglomerate's subsidiaries operate independently of each other, but each subsidiary reports to the parent company.
Answer:
I believe that it is A and C
Explanation:
