Answer: Voidable contract.
Explanation: Voidable contract is enforceable by law at the option of one or more parties but not an option of the the other parties. A voidable contract can still be considered valid if its not cancelled by the aggrieved party within a stipulated time. A contract is said to be a voidable contract if the contract is entered into without the free consent of the party. Typical grounds for a contract being voidable include coercion , undue influence and fraud. A contract made by a minor is often voidable.
It is a valid contract which may be either affirmed or rejected at the option of one of the parties involve.
Answer:
Obligations that are due within one year are: reported as a current liability.
Explanation:
Current liabilities are the obligations that the company has, and that are due (that have to be paid) within one year.
An common example of a current liability are taxes: most taxes have to be paid to the government within one year, therefore, companies include them in the financial statements as current liabilities until they are paid.
Long-term liabilities are on the other hand, those obligations that are due for periods longer than one year. Many bank loans fall under this category.
Answer:
Marching items with Performance Management Steps:
Item Performance Management Step
A. Define Performance
B. Review Performance
C. Monitor and Evaluate Performance
D. Provide Consequences
Explanation:
1. Define Performance: This is the stage when performance objectives and goals are clearly defined and agreed upon. The best performance goals are SMART goals, which are specific, measurable, attainable, realistic, and time-bound.
2. Review Performance: This is the stage when a goal is reviewed in the light of operational realities.
3. Provide Consequences: This stage issues the reward and punishment for either good or bad performance.
4. Monitor and Evaluate Performance: This stage enables realistic goals to be reset amidst performance uncertainty.
<u>Answer:</u>
<em>The factors of production typically include land, labor, capital, entrepreneurship, and the state of technological progress.</em>
<u>Explanation:</u>
In economics, capital typically refers to money. But money is not a factor of production because it is not directly involved in producing a good or service.
Instead, it facilitates the processes used in production by enabling entrepreneurs and company owners to purchase capital goods or land or pay wages. For modern mainstream economists, capital is the primary driver of value.
Answer:
c) keep a portion of deposits in reserves but lend out the rest.
Explanation:
Fractional reserve banking -
It is the system , where the fraction of the bank deposits are backed by the actual cash money on hand and is for the withdrawal purpose .
This helps to expand economy of the country , by lending more .
The bank reserves certain amount with itself and the rest amount is given for the lending purpose .
