Answer:
The answer is C. only liable on pre-formation debt until a novation occurs.
Explanation:
The corporation and the third-party agree to release the promoter from liability and to substitute the corporation in place of the promoter as the party liable on the contract. May be express or implied.
Answer:
b. Liabilities are understated by $4,167 accrued interest payable
Explanation:
Answer:
See below
Explanation:
The below shows the calculation of variance
Budgeted direct labor (per unit) 0.60
Units 2,000
Budgeted direct total labor (hrs) 1,200
Actual hours 1,160
Standard rate $17
Direct labor efficiency variance
The direct labor efficiency variance
= (Budgeted hours - Actual hours) × Standard rate
= (1,200 - 1,160) × $18
= $720 favourable
Answer:
$800.71
Explanation:
In this question we use the PMT formula that is shown on the attachment below:
Data provided in the question
Present value = $38,000
Future value = $0
Rate of interest = 10% ÷ 12 months = 0.83333%
NPER = 60 months
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the monthly payments is $800.71
Answer: Rapid Application Development (RAD)
Explanation:
Rapid Application Development (RAD) is a method of developing software that tries more to develop a working model first and then adjusts as it receives feedback from users. It essentially is evolving every time because instead of planning for what is needed ahead of time, it simply makes a product and changes it as needed to fit the actual needs of the customers.
