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Snowcat [4.5K]
3 years ago
13

Harry owns a Cadillac and a Porsche. Ryan has always wanted a Porsche and knows Harry owns one. Harry decides to sell his Cadill

ac and buy a BMW. A mutual friend of Ryan and Harry tells Ryan, "Harry's selling his car." Thinking Harry is selling the Porsche (he does not know he also has a Cadillac), Ryan calls Harry and says, "I'll give you $9,500 for your car." Harry, thinking Ryan is talking about the Cadillac, says, "You've got a deal." On what grounds is the above agreement open for rescission
Business
1 answer:
seropon [69]3 years ago
6 0

Answer:

mutual mistake

Explanation:

A mutual mistake happens when all the parties involved in a contract (two or more) are mistaken or do not know the correct information about some specific material fact that is relevant to the contract. In this case, the contract can be rescinded because Harry believes that Ryan wants to buy his Cadillac, while Ryan believes Harry is selling his Porsche.  

Since both of them are mistaken and do not know relevant material facts regarding the contract, the contract can be terminated.

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The reporting of net cash provided or used by operating activities that lists the major items of operating cash receipts, such a
Olenka [21]

Answer:

a.

Explanation:

‘Cash Flow Statement’ is one of major financial statement that indicates the inflow and outflow of cash along with the reasons by categorizing each cash transaction in three activities i.e., operating, investing or financing activity. Non-cash transactions are not considered while preparing a cash flow statement.  

Operating Activities records the cash transactions involved in the operations of the business are recorded under ‘operating activities’ in the cash flow statement.  

Examples: Revenue earned, expenses incurred etc.  

There are two methods to prepare the cash flow statement. The only difference between both the methods is the way of presenting cash flow from operating activities.  

The two methods of presenting cash flow statement are:  

  1. Direct method: Operating activities section under direct method reports the amount of cash received and paid by the company during the period.  
  2. Indirect method: Operating activities section under indirect method reports the net income and later adjusts the transactions to convert it to cash basis of accounting.  

3 0
3 years ago
Who is affected by our government’s fiscal policies?
Norma-Jean [14]

The answer is C- The entire economy

3 0
2 years ago
Smythe Co. makes furniture. The following data are taken from its production plans for the year.
Pepsi [2]

Answer:

ii

Explanation:

Number of pounds remain same whether the expected production id 207,000 or 21,000 units. Direct labor hours vary with expected units of production. So, assignement based on direct labor hours is better for assigning costs to eact product

5 0
2 years ago
Marketing managers need the information provided by marketing research for many reasons. Which of the following is not a reason
mel-nik [20]

Answer: is Option D:<u> All of the above are reasons to need information provided by marketing research</u>.

Explanation:

Marketing managers needs information based on the marketing research for betterment of the firm and its productivity. Through marketing research managers assess their current scope of the firm among consumers by calculating many factors. These includes firm's scope and its recognition nationally as well as internationally, consumers affiliation with the product produced by the firm, and to gather the information regarding its competitors. so the right option is D.

6 0
3 years ago
Quitman Enterprises sells its business language dictionary to college students throughout the United States. Joseph Quitman, the
padilas [110]

Answer:

The answer is: E) Market development strategy

Explanation:

A market development strategy involves selling your current products in new markets.

In this case, Quitman Enterprises will sell their language dictionary (current product) to international students abroad (new market).

They will seek to expand their potential market through new users of the same product.

7 0
2 years ago
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