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erastovalidia [21]
3 years ago
12

​Lydia, a minor, charges the cost of a smartphone at a Mobile Devices & Minutes store. Two nights later, Lydia loses the pho

ne at Natural Foods restaurant. She disaffirms the phone’s purchase. Lydia owes Mobile Devices the reasonable value of the phone
A)​ if it is deemed a necessary
B)​ if it is deemed a luxury.
C) ​if it is deemed unique.
D)​ under no circumstances.
Business
1 answer:
MatroZZZ [7]3 years ago
6 0

Answer:

A)​ if it is deemed a necessary good

Explanation:

Minors are not usually bound by a contract, and most of the time they can avoid liability under a contract. Minors can only sign a valid contract if it includes something that is essential for them. Medicines, food and medical services are the only things that are usually considered essential for a minor.

So the store has to prove that selling her the cell phone was a necessity, and something essential for her. It is possible to prove that it was a necessity, but it is something very difficult to do.

But the fact that the contract is not valid doesn't mean that Lydia can do whatever she wants. Her parents are responsible for returning the cell phone or since she lost it, they are responsible for paying it.

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Answer:

B) $300,000.

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Since Grade Company cannot exercise any real influence on Medium Company, it cannot value its investment using the equity method and must record its investment at fair market value. This means that the investment account must equal the market value of the 20,000 stocks, which in this case is $300,000. Grade Company should also record dividends received as revenue from investing activities.

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The objective of financial reporting is to provide useful financial information to capital providers.
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i think it is B

Explanation:

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Damon Co. purchased 100% of the outstanding common stock of Smith Co. in an acquisition by issuing 20,000 shares of its $1 par c
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The $15000 in direct acquisition costs are registered as period expenses and not relevant for the calculation of the gain of the transaction.

8 0
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Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 30 billion bottles of wine were sold ev
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Answer:

The amount of the tax on a bottle of wine is $5 per bottle. Of this amount, the burden that falls on consumers is $3 per bottle, and the burden that falls on producers is $2 per bottle. True or False: The effect of the tax on the quantity sold would have been larger if the tax had been levied on producers.

Explanation:

The amount of the tax on a bottle of wine is $5 ($3 + $2).

The burden on consumers is $3 ($9 - $6), which is the difference between the after-tax purchase price and the before-tax purchase price for consumers.  This implies that the burden passed to consumers is $3 out of the total tax burden of $5.

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If the tax burden were passed to the producers alone, the selling price would have been more than $11 ($6 + 5).  This would have reduced demand for wine as consumers would have been forced to bear the total burden.  This would have made the tax unequitable.  This would have been the case unless demand is inelastic.  That means that the total demanded is not sensitive to price increases.

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The part of staffing that involves seeking out and attracting qualified potential job
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