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3 years ago

A contract that is voidable

1 answer:

4 0

A voidable contract, unlike a void contract, is a valid contract which may be either affirmed or rejected at the option of one of the parties.

Reasons that can make a contract voidable include failure by one or both parties to disclose a material fact; a mistake, misrepresentation or fraud; undue influence or duress; one party's legal incapacity to enter a contract; one or more terms that are unconscionable; or a breach of contract.

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What is the difference between the production and the distribution of an

erastova [34]

Answer:

C. One deals with the creation of an item; the other deals with the transportation of the item from where it was made to where it will be sold.

Explanation:

3 0

4 years ago

Suppliers will keep raising prices in a certain market as long as _____.

denis-greek [22]

Suppliers will keep raising prices as long as there is excess demand, & quantity demanded exceeds the quantity supplied. Hopes this helps

5 0

4 years ago

Read 2 more answers

Closing Entries with Net Income Assume that the entry closing total revenues of $3,190,000 and total expenses of $2,350,000 has

Mademuasel [1]

Answer:

a. Debit Teresa's Capital account for $770,000; and Credit Teresa's Drawing account for $770,000.

b. Teresa Schafer, Capital at the end of the period is $$1,955,000

Explanation:

a. Journalize the entry required to close the Teresa Schafer, Drawing account.

Since the drawing will affect capital by reducing it, the journal entry will look as follows:

Particulars Dr ($) Cr ($)

Teresa's Capital account 770,000

Teresa's Drawing account 770,000

(To record the closing the Teresa Schafer, Drawing account.)

b. Determine the amount of Teresa Schafer, Capital at the end of the period.

To do this, we have to calculate the net profit first as follows:

Net profit = Total revenue - Total cost = $3,190,000 - $2,350,000 = $840,000

Since net profit will increase capita while drawing will reduce capital, we therefore have:

Capital at the end of the period = Capital + Net profit - Drawing = $1,885,000 + $840,000 - $770,000 = $1,955,000.

Therefore, Teresa Schafer, Capital at the end of the period is $$1,955,000.

7 0

4 years ago

The systemic process used to generate reliable and valid information and transform it into a format that marketing decision make

Helen [10]

Answer:

The correct answer is

3. Marketing research

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4 years ago

Assume that the reserve requirement is 20 percent. First National Bank has vault cash and deposits with the Fed of $80 million,

drek231 [11]

Answer:

The answer is (c) First National Bank is not in a position to extend additional loans.

Explanation:

Please find the below for detailed explanation and calculations:

The First National Bank current reserve ratio is calculated as : Vault cash and deposits of the Bank with the Fed/ Total demand deposits of the Bank = $80 million / $400 million = 20%.

As the First National Bank' reserve ratio is now equal to the Fed's Reserve Requirement, First National Bank can not further extend its loan portfolio's balance, otherwise, its reserve ratio will fall below Fed's requirement which is not acceptable.

So, the answer is (c).

3 0

3 years ago