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Nesterboy [21]
3 years ago
14

Ratification occurs when the principal accepts responsibility for the agent's acts. For ratification to be valid, the agent must

have acted on behalf of an principal, that principal must know all of the material , must the agent's act in its entirety, and must have the legal to ratify the transaction both at the time the agent engages in the act and at the time the principal ratifies it. The principal's ratification must occur before the third party from the transaction, and the principal must the same formalities when ratifying the act as would have been required to authorize it initially.
Business
1 answer:
Zinaida [17]3 years ago
5 0

Answer:

The answers are : unauthorized, identified, facts, affirm, authorization, withdraws, observe.

Explanation:

Ratification occurs when the principal accepts responsibility for the agent's unauthorized acts. For ratification to be valid, the agent must have acted on behalf of an identified principal, that principal must know all of the material facts , must affirm the agent's act in its entirety, and must have the legal authorization to ratify the transaction both at the time the agent engages in the act and at the time the principal ratifies it. The principal's ratification must occur before the third party withdraws from the transaction, and the principal must observe the same formalities when ratifying the act as would have been required to authorize it initially.

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When he finishes entering his transactions, Malcolm realizes that his balance is incorrect. Assuming that Malcolm had no beginni
yulyashka [42]

Incomplete question. The full question read;

Malcolm has several receipts from recent transactions that he entered into his records. The receipts include an ATM receipt for an $80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00.

When he finishes entering his transactions, Malcolm realizes that his balance is incorrect. Assuming that Malcolm had no beginning balance, what should his correct balance be?

Answer:

<u>$704.50</u>

Explanation:

First, we need to note which transactions are credit transactions, and which is a debit transaction. <em>Remember</em>, a<u> credit transaction</u> basically means a transaction that brings money into your account, while the latter is a transaction that takes money out of your account.

Malcolm's credit transactions:

  • ATM receipt for an $80.00 deposit
  • paycheck deposit slip for $650.00

Total: <u>$730.</u>

Malcolm's debit transactions:

  • grocery store receipt for $25.50

Total: $25.50

Substracting total debit transactions from credit transactions, Malcolm's correct balance would be = $704.50 ($730-$25.50).

8 0
3 years ago
6. Many supermarkets carry plain packages that only identify the name of the product that is inside. For example, a label may re
anygoal [31]

Answer:

generic goods.

Explanation:

Generic goods -

It refers to the type of packaging , where only the type of product present inside the packet is written , rather than specifying the name of the brand , is referred to as generic goods .

For example ,

Mentioning the package with rice , cola , beans etc. , is the example of generic food .

Hence , from the given scenario of the question ,

The correct answer is generic goods .

4 0
3 years ago
Which of the following best describes the purpose of INSURANCE?
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Answer:

I think B

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Insurance in short term is something that helps people protect themselves from losing money. So financial losses can be money.

3 0
2 years ago
Assume that total output in a two-good economy in 2018 consists of 50,000 apples and 2 Tesla cars, with prices of 1$ per apple a
KiRa [710]

Answer:

30%

Explanation:

GDP is the sum of all products and services produced by an economy over a given period of time. In an economy with only two products, GDP will be the sum of the quantity produced by each product at its given price.

Thus, the 2018 GDP will be:

Apples: 50,000 units x $ 1 (price) = $ 50,000

Tesla: 2 (Units) x $ 25,000 (Price) = $ 50,000

GDP 2018 = $ 50,000 + $ 50,000 = $ 100,000

The GDP variation between two years is calculated by adopting a year whose price will be the basis of the calculation, usually the first year chosen, in this case by 2018. Thus, after calculating the GDP of the base year (2018), the GDP of the The following year (2019) will be calculated using the base year price. In other words, let's calculate the 2019 GDP with the quantities sold in 2019, but with the 2018 prices. This is called the real GDP calculation, which really matters for comparison between two years.

<em>Note: Real GDP calculation is required to compare GDP developments between two or more periods. If the nominal GDP (price x quantity of each year) were calculated it would not be possible to compare properly, because in this case the effects of inflation would be infiltrated in the account. Through the calculation of real GDP inflation is isolated, as it uses the same price to calculate GDP each year, in this case the base year.</em>

Apples: 55,000 units x $ 1 (base price) = $ 55,000

Tesla: 3 (Units) x $ 25,000 (Base Price) = $ 75,000

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% GDP Change = (130,000-100,000) / (100,000) * 100 = (30,000 / 100,000) * 1000 = 0.3 * 100 = 30%

Therefore, the GDP percentage growth between 2018 and 2019 was 30%.

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