The value of the best choice is called ' Opportunity Cost' in economics.
Answer:
The answer is: C) There is a valid contract
Explanation:
According to Appellate Court ruling in Steinberg v. Chicago Medical School;
The two parties (Joe and Sate University) entered a valid contract agreement upon receiving the $100 dollar application fee from Joe. State University´s catalog is considered to be the Offer part of this contract and the $100 application fee is considered the Consideration part of the contract.
Answer: $294,000
Explanation:
Gift of $71,000 is <u>time restricted</u> as it cannot be spent for 4 years.
Gift of $91,000 is <u>purpose restricted</u> as it must be used for the purpose of salaries.
Gift of $121,000 is <u>permanently restricted</u> as it must be held forever.
Income earned from the above gift of $11,000 is <u>purpose restricted</u> for needy families.
The gifts with donor restrictions total:
= 71,000 + 91,000 + 121,000 + 11,000
= $294,000
Answer:C - Generally presented as a part of stockholders' equity
Explanation: The non controlling interest amount is generally presented in the consolidated financial statement as part of stakeholders equity. The non controlling interest is also known as the minority interest. The non controlling interest arises where the parent company has less than 100% ownership in the business.