Answer:
Answered
Explanation:
Mr. Edwards, a marketing representative of the ACME Insurance Company, scheduled a marketing event and expects about 40 people to attend. He has hired a magician at a cost of $200 to entertain attendees
He can do this, because the estimated number of attendees is based on the venue size and response rate and the value of the gift does not exceed $15.
Answer:
<u>B) No, there was insufficient consideration because Sue did not promise anything in exchange</u>
Explanation:
Remember, in law for there to be consideration there must be something of value (between the parties concerned, which is exchanged for the performance or promise of performance by the other party (such performance itself is consideration).
Thus, it could be said that Marcy's agreement to throw a party for Sue lacked insufficient consideration since there was no stated value because Sue did not promise anything in exchange.
Communicate positively, and encourage other people
Answer:
$27,720
Explanation:
The computation of the interest expense
= Principal amount × rate of interest × number of months ÷ (total number of months in a year)
= $198,000 × 14% × (12 months ÷ 12 months)
= $27,720
Basically we applied the simple interest formula to determine the interest expense and the borrowed amount is taken on January 1, 2018 and the interest expense should be reported on December 31, 2018 that comprises of 12 months
$250,000
$1,458 x 12
Months = 17,496
17,496/0.07
=$249,942
