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velikii [3]
3 years ago
6

Suppose that Jack and Hal and Sophia enter in to a contract for the sale of the business. Jack however was drunk at the time tha

t the negotiations took place and at the time of the signing of the contract.Which of the following would be Hal's and Sophie’s best defense against this action?1. The contract is void.2. The contract is valid unless Jack did not know he was entering into the contract or lacked the mental capacity to comprehend its nature.3. The contract is voidable only if Jack's intoxication was involuntary.4. The contract is voidable by any party.
Business
1 answer:
Katyanochek1 [597]3 years ago
5 0

Answer:

The contract is valid unless Jack did not know he was entering into the contract or lacked the mental capacity to comprehend its nature.

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Wildhorse Co. incurred research and development costs in 2018 as follows:
vazorg [7]

Answer:

d. $2,950,000

Explanation:

The computation of amount of research and development costs charged is shown below:-

Amount of research and development costs = Direct materials + Personnel cost + Consulting fee paid to outsiders + Indirect costs + Depreciation

= $995,000 + $795,000 + $345,000 + $270,000 + $545,000

= $2,950,000

Therefore for computing the amount of research and development costs we simply applied the above formula.

8 0
3 years ago
Which of the following best describes the term customer contact points? Group of answer choices
kumpel [21]

Answer:

d.a customer interacting with a franchise employee

Explanation:

Customer contact points are avenues through which a company interacts with its customers directly. The modes of interactions include phone calls, written communication, online interactions, or one-on-one customer support.

Many businesses recognize the importance of customer contact points. They invest heavily to ensure that the customer gets a wonderful experience at the contact points.

6 0
3 years ago
Adjusts the accounts at the end of each month. cruella's adjusting entry at the end of february should include a debit to rent e
Sauron [17]

After each month, adjust the accounts. Cruella's adjusting entry at the end of February should include a debit to rent expense for $100.

<h3>What is an adjusting entry?</h3>

Adjusting entries refer to a set of journal entries recorded at the end of the accounting period to have updated and accurate balances of all the accounts. The main purpose of adjusting entries is to communicate an accurate picture of the company’s finances. The management can have a proper look into the financial statements knowing that Everything that occurred during the month is reported, even if the financial part of the transaction would have been warranted to have occurred at a later stage.

To learn more about adjusting entries, visit;

brainly.com/question/4035835

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8 0
2 years ago
when an auditor of financial statements has substantial doubt about an entity's ability to continue as a going concern, the audi
tangare [24]

If information about an entity's ability to continue as a going concern is not disclosed in the financial statements, an auditor of financial statements is likely to express an adverse opinion.

<h3>Define a qualified or adverse opinion.</h3>

A remark made in an auditor's report that is attached to a company's audited financial statements is known as a qualified opinion. According to an auditor's judgment, a company's financial information may have been incomplete or there may have been a significant problem with how generally accepted accounting standards (GAAP) were applied, but the problem was not widespread.

With one or more exceptions, the financials often reflect the company's success and position. The financial statements are inaccurate or do not adhere to widely accepted accounting rules, in our opinion (GAAP).

To know more about qualified opinion, visit:

brainly.com/question/14310924

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7 0
1 year ago
1.6 Harper Travel Agency purchased land for $85,000 cash on December 10, 2015. At December 31, 2015, the land's value has increa
noname [10]

Answer:

$85,000

Explanation:

In the balance sheet, a company records the value of assets at their historical cost. Assets are recorded in the balance sheet at the price that they were acquired.  Even if a company has strong reasons to believe that the value of an asset has increased, It cannot adjust its value in the books.

Harper will record the value of the land at $85,000.  $93,000 represents the fair value of the property. Harper cannot record the fair value in the balance sheet. The fair value is only used when disposing of the property. The only way of verifying the fair value is by selling the property.

4 0
3 years ago
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