Answer:
The correct option is D: Trimon may enforce this contract even if Clar Corporation does not wish to be bound.
Explanation:
As long as Ames had no actual, implied, or express authority, it is impossible for Trimon to enforce the contract. Furthermore, under agency law, it is required that the contract is either ratified completely, or its not ratified at all, and hence option A is correct. It is also possible for Trimon to withdraw from the contract because Ames has no authority unless Clar ratisfies the contract entirely, hence B is a correct statement. Also Clar can ratify the contract by actions, without having to state it, making C a correct statement also. The only incorrect statement is D.
Answer:
B. Holly's statement is normative, but Ben's is positive.
Explanation:
Positive statements are based on objective deduction of what is, or was. It is based on facts. Ben's comment "an increase in the tax on beer will raise its price", is an example of positive statement.
Normative statements are subjective and based on individual values and judgement. In her statement Holly appears to be biased against drinking much. She says "taxes should be increased on beer because college students drink too much." Is a normative statement.
Answer:
The correct entry is d. Notes Receivable, Dame Company6,000 Accounts Receivable, Dame Company6,000
Explanation:
Note receivable is a written promise to get a specific amount of money at a chosen future date. In other words, a Notes receivable is an asset of Paper Company because it holds a written promissory note from Dame Company. Since Paper Company is receiving cash, it an asset (Asset means the possessions of a company). The note receivable is due within a year, and then it is a current asset on the balance sheet
In this question, Paper Company will debit it note receivable and credit it account receivable (amount owed by Dame Company) as shown on the journal below
General Journal Debit Credit
Notes Receivable—Dame Company $6,000
Accounts Receivable—Dame Company $6,000
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I think it's B. not entirely sure
