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Morgarella [4.7K]
3 years ago
8

Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it. Leslie buys the stereo,

but it does not have quadraphonic speakers. Is Mark liable for breach of warranty? Yes, because Mark was not acting in good faith. Yes, because the statement was false. No, because he did not promise her that the speakers were quadraphonic. No, because he did not know his statement was false.
Business
1 answer:
Gemiola [76]3 years ago
6 0

Answer:

Yes, because the statement was false.

Explanation:

Breach of warranty is defined as a misrepresentation of the quality or type of a product. The seller fails to fulfil a promise or claim made during a transaction.

When a good is being sold there are certain assertions which the seller must stand behind.

In this scenario Mark tells Leslie that his stereo has quadraphonic speakers because he was told that when he bought it.

The fact that the stereo did not have quadrophinic speakers should have been discovered and stated by Mark. The misinformation he got when buying the stereo does not clear him of breach of warranty

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Timothy Company has invested $1,000,000 in a plant to make vending machines. The target operating income desired from the plant
Ne4ueva [31]

Answer:

11%

Explanation:

Calculation to determine the markup percentage as a percentage of cost for Timothy Company

First step is to calculate the Sales revenue

Sales revenue = 1,500 units × $1,000

Sales revenue = $1,500,000

Now let calculate the Markup percentage

Markup percentage = $150,000 / ($1,500,000 - $150,000)

Markup percentage = $150,000/1,350,000

Markup percentage= 11%

Therefore Markup percentage is 11%

8 0
3 years ago
Caruso Company's SUTA rate for next year is 2.9% because its reserve ratio falls in its state's 8% to less than 10% category [(c
zaharov [31]

Answer:

voluntary contribution  $97150

Explanation:

data provided:

tax rate: 2.3%

reserve ratio- 8-10%

average payroll = $971,500

Assume voluntary contribution ="X "

From the information given in the question we have

\frac{X}{971500} = 10%

here we have taken max reserve ratio  i.e. 10%

"X" = 971500*0.10

       = $97150

we know that, from the question present contribution minus benefit is equal to $93,500

hence, extra contribution = 97150 - 93500 = $3650

extra contribution = $3650

5 0
3 years ago
Which of the following statements is correct?
Eddi Din [679]

Answer:

The correct answer is D

Explanation:

Under the periodic inventory system, the companies evaluate the COGS (Cost of goods sold) at the end of the accounting year or the fiscal period. And the details of the goods on hand which are not available, in this system.

And under the perpetual inventory system, this offer better control over the inventories rather than the periodic inventory system. And this system requires the COGS (Cost of goods sold) to be acknowledged at the time of sale and it contain the more accurate value of goods on hand.

Therefore, the statement which is correct is that the perpetual inventory system, offer better control over inventories.

5 0
3 years ago
Assuming suppliers produce 75 lawnmowers per week:
Irina-Kira [14]

Answer:C

Explanation: this quantity is allocatively inefficient because the marginal cost of producing the last lawnmower exceeds the marginal benefit to consumers.

6 0
3 years ago
Trowel Corp. has outstanding accounts receivable totaling $13,000,000 as of December 31 and sales on credit during the year of $
maksim [4K]

Answer:

$756,000

Explanation:

Allowance for Bad Debts opening        ($24,000)

Allowance for Bad Debts Closing         $780,000

(13,000,000)*6%

Allowance Bad  Debt Expense for the year  $756,000

5 0
3 years ago
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