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Tju [1.3M]
3 years ago
6

Mona is induced by her guardian Newt to sign a contract to invest her student loan funds in Overseas Bank through Newt’s investm

ent firm. Unknown to Mona, Newt realizes ongoing commissions from the investment. Most likely, Mona may
a. not rescind the contract.
b. rescind the contract on the basis of undue influence.
c. rescind the contract on the basis of mistake.
d. rescind the contract on the basis of unconscionability
Business
1 answer:
Novosadov [1.4K]3 years ago
8 0

Answer:

B: rescind the contract on the basis of undue influence.

Explanation:

 The fact that Mona has a guardian infers that this is someone she could trust for at least her financial issues, and because this person has used his or her advantage position and knowledge, and they relationship as well,  to induce her to sign a contract she didn't understand fully, she can resort to a contract rescission on basis of undue influence.

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Suppose that an income producing property is expected to yield cash flows for the owner of $150,000 in each of the next five yea
vivado [14]

Answer:

$1,449,635.50  

Explanation:

The computation of the value of the property today is shown below:

First the present value for 5 years is

Year Cash flows    Discount factor      Present value

1 $150,000  0.925925926 $138,888.89  

2 $150,000  0.85733882         $128,600.82  

3 $150,000  0.793832241         $119,074.84  

4 $150,000  0.735029853         $110,254.48  

5 $150,000  0.680583197          $102,087.48  

Total present value            $598,906.51  

The discount factor is

= 1 ÷ (1 + rate)^years  

And, the formula of future value is

Future value = Present value × (1 + rate)^number of years

$1,250,000 = Present value × (1 + 0.08)^5

$1,250,000 = Present value × 1.469328077

So, the present value is $850,729

Now the today value of the property is

= $598,906.51 + $850,729

= $1,449,635.50  

7 0
3 years ago
Managers are important members of the organization. Within an organization, there are managers at four levels: top, middle, firs
Zolol [24]

Answer:

1. Pat is Middle Level.

Pat is trying to implement the strategic goals of the company which are set by Top Management. That would make Pat a Middle level manager.

2. Rick is Top Level.

Rick is developing the policies for the entire company which would place Rick at Top Manager level.

3. Daisy is a First-line Manager

Daisy is responsible for the loading products such that it is done effectively. This is an operational duty which would place Daisy at First-line level.

4. Ruth is a First-Line Manager

Ruth directs art staff who are non-managers which would make Ruth a first-line manager

5. Gary is Top Level

By developing projections on long term growth, that means Gary contributes to strategic decisions thereby making Gary top level.

6. Greg is Middle Level

Greg is in charge of first line managers which places him directly on top of them which means he is a middle level manager.

7. Mike is a Team Leader

Mike is in charge of the team which is the textbook role of a team leader.

8. Nancy is a Team leader

The members of the team go to Nancy when they need to resolve conflict or when they want to coordinate their activities. As the team leader is in charge of team coordination, Nancy must therefore be a team leader.

5 0
3 years ago
Walker Company prepares monthly budgets. The current budget plans for a September ending merchandise inventory of 30,000 units.
agasfer [191]

Answer:

Preparation of merchandise purchases budgets for the months of July, August, and September is shown below:-

Explanation:

                                  Walker Company

                       Merchandises Purchase Budget

                        For July, August , September

                                                             July        August      September

Budgeted ending inventory units        47,250  40,500      30,000

Add: Budgeted unit sales for month  180,000  315,000    270,000

Required units available inventory     227,250  355,500   300,000

Less: Beginning inventory units          27,000   47,250      40,500

Units to be purchased                         200,250  308,250   259,500

Working Note 1

September required units

Ending inventory                         30,000

Add: Budgeted sales                  270,000

Total required in September      300,000

Working Note 2

September Beginning inventory

Total required                               300,000

Less: Budgeted purchases          259,500

September beginning inventory  40,500

Working Note 3

Beginning inventory of September = Ending inventory of August

Working Note 4

August required units

Ending inventory           40,500

Add: Budgeted sales    315,000

Total required in August 355,500

Working Note 5

August beginning inventory

Total required                        355,500

Less: Budgeted purchases 308,250

August beginning inventory  47,250

Working Note 6

Beginning inventory of August = Ending inventory of July

Working Note 7

July required units

Ending inventory           47,250

Add: Budgeted sales     180,000

Total required in July      227,250

Working Note 8

July beginning inventory

Total required                         227,250

Less: Budgeted purchases    200,250

July beginning inventory        27,000

8 0
3 years ago
Jenna Parker owns and manages her single-member LLC, which provides a wide variety of financial services to her clients. She is
tatiyna

Answer:

$57,000

Explanation:

Net Income reported = $300,000

W-2 Wages = $120,000

Assets with an adjusted basis = $75,000

Taxable income before QBI deduction = $285,000

Total taxable income from all source deduction(including standard deduction) = $1,200 for singles & $24,000 for married filling jointly

<u>Calculation of QBI deduction for 2020</u>

The maximum possible pass through deduction = 20% * $285,000 = $57,000

Hence, the income is not over $415,000. So he doesnt qualify for the W-2 wages deduction.

7 0
3 years ago
Government in a market system can increase economic efficiency by collecting taxes in order to subsidize the production of Group
deff fn [24]

Answer:

Government in a market system can increase economic efficiency by collecting taxes in order to subsidize the production of

public and quasi-public goods.

Explanation:

Public and quasi-public goods can only be provided efficiently by the government or quasi-government organizations for the benefit of every member of the society, without exhibiting the characteristics of a private good. Public and quasi-public goods are known to be non-excludable and non-rivalrous, with partial diminishability and rejectability.

3 0
3 years ago
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